Historydraft LogoHistorydraft Logo HistorydraftbetaHistorydraft Logo Historydraftbeta

Financial crisis of 2007–2008

New Century filed for Chapter 11 bankruptcy protection

Apr, 2007
U.S.

April 2007: New Century, an American REIT specialising in sub-prime mortgages, filed for Chapter 11 bankruptcy protection. This propagated the sub-prime crisis, through securitization, to banks around the world.


<