Recent Updates
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New Century gets financing approved
Bankruptcy 04/06/2007New Century Financial Corp. (NEWC.PK: Quote, Profile, Research), the largest U.S. subprime lender now under bankruptcy protection, was authorized on Thursday to obtain up to $150 million of financing to keep operating under Chapter 11.The package, wh...
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Two convicted of fraud in bankruptcy of cheese maker
Bankruptcy 04/03/2007[##_1L|1310657151.jpg|width="130" height="90" alt=""|_##]Two top executives for a now-defunct cheese maker were convicted on all charges they faced in connection with a scheme that used nearly $400 million in fictitious sales to boost Suprema Special...
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New Century Financial Files For Bankruptcy
Bankruptcy 04/02/2007Subprime mortgage lender New Century Financial has filed for bankruptcy protection.Once one of the largest providers of subprime mortgages in the United States and now a casualty of the slumping housing market and aggressive lending practices, the co...