Wednesday, April 11, 2007

New Century seeks faster sale of loan business

(Reuters) - New Century wants to sell its loan origination business by early May and sees an "exigent and immediate need" to set up bidding procedures, according to a late Monday filing with the U.S. bankruptcy court in Wilmington, Delaware.

The Irvine, California-based company previously said it planned to sell major assets within 45 days of its April 2 bankruptcy filing, or around May 17.


Read more at Reuters.com Business News

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