Washington, DC — LAWFUEL – The Law Firm Newswire – Kirkpatrick & L…

Washington, DC — LAWFUEL – The Law Firm Newswire – Kirkpatrick & Lockhart Preston Gates Ellis LLP (K&L Gates) partner Michael J. Missal has been confirmed as the Examiner in the bankruptcy proceedings of subprime loan specialist New Century Financial Corp.

The United States Department of Justice (DOJ) appointed Missal as Examiner on June 5, 2007. Judge Kevin J. Carey of the United States Bankruptcy Court for the District of Delaware signed an order confirming the appointment on June 7, 2007.

According to an earlier order that granted the DOJ the power to appoint an Examiner, Missal’s role will be to “…investigate any and all accounting and financial statement irregularities, errors or misstatements,…any possible post-petition unauthorized use of cash collateral by the Debtor and otherwise perform the duties of an examiner….” Missal is also required to prepare a report for the bankruptcy court.

A former Senior Counsel for the SEC’s Division of Enforcement, Missal has been with K&L Gates since 1987. He is a member of the K&L Gates Management Committee and a Practice Area Leader of K&L Gates’ Policy and Regulatory practice area. His practice focuses on internal investigations and securities enforcement matters. Missal served as Lead Counsel to the Examiner in the WorldCom bankruptcy proceedings and as Lead Counsel to the Independent Review Panel for CBS investigating the September 8, 2004 60 Minutes Wednesday segment concerning President Bush’s Texas Air National Guard Service. Further biographical information on Missal can be found here: http://www.klgates.com/professionals/Detail.aspx?professional=382.

K&L Gates comprises approximately 1,400 lawyers in 22 offices located in North America, Europe and Asia, and represents capital markets participants, entrepreneurs, growth and middle market companies, leading FORTUNE 100 and FTSE 100 global corporations and public sector entities. For more information, visit www.klgates.com.

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