LONDON (Alliance News) - The terms of a proposed settlement filed on Wednesday in the US will see Barclays Capital Inc, part of Barclays PLC, pay a USD23.0 million sum to the creditors of Thornburg Mortgage Inc, settling allegations of "improper" margin calls that contributed to the bankruptcy of the mortgage lender, the Wall Street Journal reported.
The agreement was reached with the court-appointed trustee overseeing the liquidation of Thornburg Mortgage.
http://online.wsj.com/articles/barclays-to-pay-23-million-to-settle-thornburg-mortgage-lawsuit-1408559969
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Barclays (BARC)
