Barclays Can't Duck $94M Thornburg Trustee Suit

Law360, New York (August 1, 2014, 8:26 PM EDT) -- A Maryland federal judge on Friday refused to free Barclays Capital Inc. from a $94 million suit brought by the trustee for defunct Thornburg Mortgage Inc. over a $2.7 billion mortgage-backed securities liquidation that allegedly undervalued Thornburg's assets and contributed to the real estate trust’s crisis-era collapse.

U.S. District Judge Ellen Lipton Hollander ruled that while certain evidence suggested that the parties had intended for Barclays to determine whether the value of mortgage-backed securities being used as collateral for repurchase agreements had dipped low enough to...
To view the full article, register now.