UPDATE 1-New Century bankruptcy judge won't oust management

(Reuters) - U.S. Bankruptcy Judge Kevin Carey, who sits in Wilmington, Delaware, ruled that current management is managing the sale of assets well, according to Mark Power, a lawyer representing New Century's official committee of unsecured creditors. The committee opposed the naming of a Chapter 11 trustee.

U.S. Trustee Kelly Beaudin Stapleton, acting for the U.S. Department of Justice, had urged Carey to name a trustee, citing the alleged failure of New Century's management to ensure proper accounting and internal controls.


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