A highly anticipated bankruptcy examiner’s report on New Century Financial Corporation, unsealed Wednesday, has meant a bonanza in fees for its author, Kirkpatrick & Lockhart Preston Gates Ellis partner Michael Missal.
New Century, once the second-largest originator of subprime mortgage loans, filed for Chapter 11 in April 2007 after a restatement of its 2006 financial statements sent shares plummeting. Last June the U.S. trustee appointed Missal to examine New Century’s collapse.
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