K&L Gates Files Final Report In Bankruptcy Investigation

Thursday, May 1, 2008 - 01:00

The Final Report in the bankruptcy proceedings of subprime loan specialist New Century Financial Corp, filed by Kirkpatrick & Lockhart Preston Gates Ellis LLP (K&L Gates) partner and court-approved Examiner Michael J. Missal on February 29, 2008, was unsealed by the United States Bankruptcy Court for the District of Delaware. Concluding an eight-month investigation that began with the U.S. Department of Justice's appointment of Missal as Examiner in June 2007, the 550-page report covers New Century's accounting and financial reporting practices, loan origination operations, audit committee and internal audit department and system of internal controls. The Final Report also identifies possible causes of action that may be available to the New Century estates.

A former Senior Counsel for the SEC's Division of Enforcement, Mr. Missal joined K&L Gates in 1987 and focuses his practice on internal investigations and securities enforcement matters.

The Newark office of K&L Gates welcomes Charles F. Rysavy as a partner in the firm's toxic tort practice. Mr. Rysavy joins K&L Gates from McCarter & English, LLP, where he was the past chair of the mass and toxic tort practice group.

An experienced toxic tort litigator, Mr. Rysavy has appeared before numerous state and federal courts in a wide range of complex class action and mass products liability cases.

Mr. Rysavy is joined by longtime colleague Roger P. Shaw, who will serve as a technical specialist supporting K&L Gates lawyers on litigation, transactions and client counseling on matters related to radiation injury claims and the commercial nuclear industry.

K&L Gates has established its fourth Asia office with the opening of a Shanghai office, the second representative office in China and 25th location globally. K&L Gates entered the Asia market more than a decade ago with the establishment of its Hong Kong office, followed by offices in Beijing and Taipei.