"Thornburg Mortgage to file bankruptcy" New York / London  www.reuters.com / www.guardian.co.uk / KSFR / New York Times / CNBC April 1, 2009
Nexsen Pruet member (partner) offers insight after Thornburg Mortgage Inc. announces plans to file for bankruptcy protection.
Reuters reporter Jonathan Stempel asked Myatt about the bankruptcy process just after the news broke on Wednesday morning, April 1.
Thornburg Mortgage Inc. had just announced that "it plans to file for Chapter 11 bankruptcy protection and go out of business, making the provider of 'jumbo' mortgage loans one of the largest casualties of the nation's housing slump and credit crisis."
Myatt said it appears Thornburg was "caught up in the credit crisis like everyone else" and that it is "better to go through Chapter 11 liquidation rather than Chapter 7 because it allows asset sales over a period of time rather than a forced sale right now."
Click here to read the article on Reuters.com.
Click here to read to the article on Guardian.co.uk.
Click here for an interview on Santa Fe Public Radio KSFR.
Click here for a blog report from The New York Times.
Click here for a report from CNBC. |
