TMST Shares To Be Deregistered Over Missing SEC Reports

Law360, New York (February 3, 2012, 10:17 PM EST) -- Bankrupt mortgage lender TMST Inc. on Friday asked a Maryland bankruptcy court to approve a settlement under which it agreed to a U.S. Securities and Exchange Commission order revoking its registered securities after three years of failing to file required financial reports.

TMST, formerly known as Thornburg Mortgage Inc., said in its motion that agreeing to the order and thereby acknowledging its failure to comply with reporting requirements under the Securities Exchange Act is preferable to actually filing the reports because they are costly and would...
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