New Century Examiner's Extension Bid Falls Short

Law360, New York (October 11, 2007, 12:00 AM EDT) -- A Delaware bankruptcy court judge has granted the New Century Financial Corp. examiner more time to probe the events surrounding the subprime mortgage giant's collapse, but has declined to award the court-appointed official the full six months he desired.

On Wednesday, U.S. Bankruptcy Judge Kevin Carey set a Jan. 15 deadline for Michael Missal to finish his report on the lender's alleged misdeeds, giving the examiner leave to continue probing New Century's books for an additional four months.

The examiner, a practice leader in the policy/regulatory...
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