UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~January~~February 2322, 2012

TMST, INC.

(Exact name of registrant as specified in its charter)

Maryland

001-11914

85-0404134

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

125 Lincoln Avenue, Suite 100, Santa Fe, New Mexico 87501

(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (505) 989-1900

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 – Other Events

Item 8.01.

Other Events.

On February ~~January 23~~22, 2012, the United States Bankruptcy Court for the District of Maryland (the “Bankruptcy Court”) issued a Memorandum of Decision and entered an Order Determining Count IV of the Complaint (the “Decision”) filed by Credit Suisse Securities (USA), LLC (“Credit Suisse”) against TMST, Inc. f/k/a Thornburg Mortgage, Inc., TMST Hedging Strategies, Inc. f/k/a Thornburg Hedging Strategies, Inc., and TMST Home Loans, Inc. f/k/a Thornburg Mortgage Home Loans, Inc. (collectively, the “~~Company~~Debtors”) ~~received~~on ~~verbal~~August ~~notification~~28, ~~from~~2009 ~~the~~[Adv. ~~Denver~~Proc. ~~Regional~~No. ~~Office~~09-0574-DWK]. By operation of ~~the~~law, ~~Securities~~Joel ~~and~~I. ~~Exchange~~Sher, ~~Commission~~Chapter 11 Trustee (the “~~Commission~~Trustee”) ~~that~~for the ~~Office~~Debtors ~~intends~~was tosubstituted ~~recommend~~as ~~that~~party ~~the Commission~~Defendant ~~institute~~following ahis appointment ~~public~~in ~~administrative~~October ~~proceeding~~2009. ~~against~~Count ~~the~~IV ~~Company~~sought ~~pursuant~~declaratory tojudgment ~~Section~~on ~~12(j)~~Credit ofSuisse’s ~~the~~interest ~~Securities~~in ~~Exchange~~certain ~~Act~~mortgage ofservicing ~~1934,~~rights ~~as amended~~ (~~the~~ “~~Exchange Act~~MSR”), towhich ~~revoke~~were ~~the~~sold ~~registration~~by of the ~~Company’s~~Trustee ~~securities based~~pursuant onto ~~the~~court ~~Company’s~~order ~~substantial~~on ~~periodic~~February ~~reporting~~16, ~~delinquencies~~2010. The ~~notification~~Bankruptcy Court ~~follows~~issued the ~~Wells~~Decision ~~Notice~~after ~~sent~~conducting bya ~~the~~three-day ~~Division~~trial ofon ~~Enforcement~~February to1-3, ~~the~~2011, ~~Company~~solely on ~~December~~Count ~~13,~~IV ~~2011~~of ~~and~~the Complaint. In the ~~Division’s~~Decision, ~~review~~the ofBankruptcy Court confirmed its prior ruling that the ~~Trustee~~Debtors’s ~~Wells~~bankruptcy estates hold approximately ~~Submission~~$16,882,896.95 ~~that~~plus ~~requested~~earned ~~that~~interest, ~~the~~representing ~~Staff~~unpaid ~~not~~servicing ~~make~~fees anand ~~enforcement~~advances ~~recommendation.~~reimbursed ~~Although~~by the ~~Office~~purchaser ~~asserts~~as ~~that~~part of the ~~Company~~MSR ~~has~~sale, ~~been~~free ~~delinquent~~and inclear of the ~~filing~~lien ofheld ~~its~~by ~~quarterly~~Credit Suisse, and ~~annual~~additionally ~~reports~~determined ~~under~~that ~~Section~~the ~~13(a)~~Debtors’ bankruptcy estates are entitled to and ~~periodic~~hold ~~reports~~5% ~~under Section~~of 15the proceeds of the purchase price (d$79,302,557.53) of the ~~Exchange~~MSR ~~Act~~sale ~~since~~free ~~the~~and ~~commencement~~clear of ~~its~~the ~~Chapter~~lien 11held ~~bankruptcy~~by Credit Suisse, ~~the~~approximately ~~Company~~$3,965,127.00, ~~relying~~plus onearned ~~the~~interest, ~~Commission’s~~for ~~Release~~a Nototal recovery of approximately $20.8 ~~9660~~million. ~~dated~~The ~~June~~Decision ~~30,~~does ~~1972,~~not ~~has~~resolve ~~been~~the ~~timely~~remaining Counts in ~~its~~the ~~filing~~Complaint ~~with~~and the ~~Commission~~Bankruptcy ~~under~~Court ~~Form~~has ~~8-K~~scheduled a status conference for April 11, 2012 to address the ~~Company’s~~ ~~Monthly~~same. ~~Operating~~The ~~Reports~~Trustee ~~filed~~will ~~each~~continue ~~month~~to ~~with~~represent the ~~Bankruptcy~~interests ~~Court~~of the Debtors’ bankruptcy estates with respect to these matters.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


TMST, INC.

By:		/S/ JOEL I. SHER
		Joel I. Sher
		Chapter II Trustee

Date: ~~January~~February 24, 2012

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