Judge Allows $90M In Claims Against New Century

Law360, New York (July 2, 2008, 12:00 AM EDT) -- The bankruptcy judge overseeing the Chapter 11 case of New Century TRS Holding Corp. has approved an agreement that will allow the payment of more than $90 million in claims to Bank of America NA.

Judge Kevin J. Carey of the U.S. Bankruptcy Court of the District of Delaware approved the stipulation between Bank of America, subprime lender New Century and New Century’s official committee of unsecured creditors on Tuesday. The stipulation allows five Bank of America general unsecured claims against the bankruptcy estate at $18.78...
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