Advertisement
YOU ARE HERE: LAT HomeCollections

In Brief | LENDING

3 New Century directors resign

September 29, 2007

Three directors of New Century Financial Corp., an Irvine-based sub-prime mortgage lender in bankruptcy, resigned from the firm's board of directors.

Chairman Robert K. Cole and financial Vice Chairman Edward F. Gotschall, who helped start the company in 1995, quit the board Tuesday. A third director, Richard A. Zona, resigned Monday, according to a filing with the Securities and Exchange Commission.

"With the wind-down virtually complete, New Century will be filing its final plan of liquidation in the next couple of months," company spokesman Dan Gagnier said. "It is not unusual for directors to resign at this point in the process."

Advertisement
Los Angeles Times Articles
|
|
|