(Reuters) - The accounting mistakes are in addition to those that the Irvine, California-based company previously disclosed for the first nine months of 2006. New Century said it does not expect to restate results for any of the periods because it is liquidating under Chapter 11 of the U.S. Bankruptcy Code.
In a U.S. Securities and Exchange Commission filing, New Century said it made mistakes in both periods in accounting for losses on loans it repurchased. It said it also made mistakes in 2005 in how it valued some interests in securitizations.
Read more at Reuters.com Bonds News
In a U.S. Securities and Exchange Commission filing, New Century said it made mistakes in both periods in accounting for losses on loans it repurchased. It said it also made mistakes in 2005 in how it valued some interests in securitizations.
Read more at Reuters.com Bonds News
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