New Century To File Chapter 11 Plan By Feb. 21

Law360, New York (January 30, 2008, 12:00 AM EST) -- Bankrupt subprime lender New Century Financial Corp. has asked for an extension of its exclusivity period, giving the company until Feb. 21, 2008, to file its liquidation plan.

New Century filed its fourth request for an exclusivity extension on Monday in the U.S. Bankruptcy Court for the District of Delaware, seeking a 21-day extension of the exclusive period during which it can file a Chapter 11 plan and a 60-day extension of the period during which it can solicit acceptances of the plan.

The bankrupt lender’s...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.