Thornburg's $35M MBS Underpayment Suit Will Proceed

Law360, New York (March 29, 2012, 5:14 PM EDT) -- A Maryland federal judge said March 23 that the Chapter 11 trustee for Thornburg Mortgage Inc. can proceed with a $35 million suit alleging RBC Capital Markets LLC underpaid when it seized and sold Thornburg-owned mortgage-backed securities.

U.S. District Judge Benson Everett Legg gave the green light to trustee Joel Sher's breach of contract claims over the amount Thornburg — now called TMST Inc. — was paid after it failed to satisfy the securities firm's margin call and RBC seized the securities. The judge killed claims,...
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Case Information

Case Title

Sher v. RBC Capital Markets, LLC

Case Number




Nature of Suit

Bankruptcy Withdrawl


George Levi Russell, III

Date Filed

July 19, 2011

Law Firms


UK Financial Services

UK Financial Services

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