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Thornburg Facing Collapse

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03-08-2008, 02:08 AM

Veronica Corningstone Veronica Corningstone is offline

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Thornburg Facing Collapse

Thornburg Mortgage Inc. has received notices of defaults from Natixis Securities North America Inc., ING Financial Markets LLC and Goldman, Sachs & Co., according to an 8-K filing with the Securities and Exchange Commission. The company noted the remaining margin calls significantly exceeded its available liquidity. "These events have raised substantial doubt about the company's ability to continue as a going concern without significant restructuring and the addition of new capital," Thornburg stated.

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