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New Century Examiner Gets OK To Give Trustee Docs

Law360 (May 4, 2009, 12:00 AM EDT) -- The judge overseeing the New Century Financial Corp. Chapter 11 case has given an examiner the green light to transfer to the liquidating trustee documents from an eight-month probe, which resulted in a report criticizing the subprime lender's auditor for contributing to its demise.

That auditor, KPMG LLP, protested the records transfer, arguing the exchange would transform the examiner's office “from one of independence and neutrality, to one of partisanship and advocacy.”

But Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of...
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