Lawyers at O’Melveny & Myers have had a rough few weeks representing one of the nation’s largest failed subprime lenders. New Century Financial Corp. and its outside restructuring attorneys at O’Melveny misled a bankruptcy examiner about funds that may belong to creditors, according to a blistering report by the examiner. And the bank’s outside counsel had to apologize to a bankruptcy judge for a discovery “mishap” in which more than 700,000 e-mails weren’t turned over to the bankruptcy examiner.
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