New Century: Complexity Warrants More Exclusivity

Law360, New York (July 16, 2007, 12:00 AM EDT) -- The bankruptcy cases of New Century Financial Corp. and its subsidiaries are so large and sophisticated that the debtors need a 120-day extension of their exclusive rights to put together a reorganization plan, the bankrupt subprime lender said Friday.

New Century wants U.S. Bankruptcy Judge Kevin J. Carey to extend its exclusive rights to file a reorganization plan through November 28, 2007, and extend its exclusive rights to solicit support for its plan through January 8, 2008.

The extension sought by New Century is similar to...
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