Battered Mortgage Lender Thornburg Weighs Ch. 11

Law360, New York (March 17, 2009, 12:00 AM EDT) -- Creditors including JPMorgan Chase Funding Inc. and Credit Suisse Securities (USA) LLC have agreed to give struggling jumbo mortgage provider Thornburg Mortgage Inc. a little breathing room after the lender nearly fell into default on its financing obligations, leaving open the possibility of a bankruptcy filing.

The Santa Fe, N.M.-based mortgage real estate investment trust announced Tuesday that it had reached agreements with creditors including JPMorgan, Credit Suisse, Greenwich Capital Markets Inc., the Royal Bank of Scotland PLC and UBS AG in which the creditors generally...
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