Thornburg Mortgage Enters Ch. 11, Starts Liquidation
In a petition filed Friday in the U.S. Bankruptcy Court for the District of Maryland, Thornburg revealed its intention to sell off one performing unit, mortgage auditor and servicer Adfitech Inc., and to liquidate the rest of its holdings.
The Santa Fe, N.M.-based real estate investment trust cited the collapse of the real estate market as the reason for its demise....
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