Thornburg Mortgage Enters Chapter 11

(CN) - Thornburg Mortgage has filed for bankruptcy, listing more than $4.5 billion in debts. The Santa Fe, N.M.-based company has had financial problems since the housing crash began in the summer of 2007.

Thornburg's top creditors include $1.3 billion owed to Wilmington Trust, $1 billion owned to RBS Global Banking & Markets, and $911 million to Credit Suisse, though Thornburg disputes the last two.

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