Judge Refuses To Halt Ch. 11 Sale Of Thornburg Unit

Law360, New York (August 18, 2009, 12:57 PM EDT) -- A bankruptcy judge has declined to authorize Thornburg Mortgage Inc.'s bid to halt the sale process of subsidiary Adfitech Inc., ruling that the request is not the court's to grant.

Judge Duncan Keir of the U.S. Bankruptcy Court for the District of Maryland on Monday denied Thornburg's emergency motion for an order approving the sale process' termination.

The debtor's request to terminate the ongoing Adfitech sale process is not something the court can approve, Judge Keir ruled, agreeing with the U.S. trustee that the request required...
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