Banks and Street Firms Largest Unsecured Creditors of Thornburg

The ten largest unsecured creditors of the recently bankrupted Thornburg Mortgage include banks and Wall Street firms that were owed at least $4.6 billion, according to court records. The nature of the debts include senior subordinated notes, master repurchase agreements, and junior notes. The top three unsecured creditors are owed (combined) $3.2 billion and include Wilmington Trust ($1.3 billion), Royal Bank of Scotland ($1 billion), and Credit Suisse ($911 million). A jumbo lender based in Santa Fe, Thornburg filed for Chapter 11 protection in Maryland, listing debts of more than $1 billion. It was a publicly traded REIT. At last check this once high flying "super jumbo" lender had a servicing portfolio of about $16 billion — all of it jumbos or super jumbos.