New Century Tries To Rescue Nixed Liquidation Plan

Law360, New York (July 20, 2009, 2:38 PM EDT) -- The trustee overseeing the dissolution of New Century Financial Corp. has appealed a federal judge’s recent decision to reverse the bankruptcy court’s approval of the subprime lender’s liquidation plan.

Seeking to reinstate the derailed plan, the New Century Liquidating Trust and New Century Warehouse Corp. lodged an appeal Friday with the U.S. Court of Appeals for the Third Circuit.

Late last month, Judge Sue L. Robinson of the U.S. District Court for the District of Delaware refused to reconsider her decision to scrap the liquidation plan...
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