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): March 19 20, 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 87 – ~~Other~~Regulation ~~Events~~FD

Item 87.01. ~~Other~~Regulation ~~Events~~FD Disclosure.

On ~~February~~ May 131, ~~2012~~2009, ~~Joel~~TMST, IInc. ~~Sher~~, ~~Chapter~~a 11Maryland ~~Trustee~~corporation formerly known as Thornburg Mortgage, Inc. (the “~~Chapter 11 Trustee~~Company”), together ~~for~~with ~~the~~certain ~~bankruptcy~~of ~~estates~~its ofwholly-owned ~~TMST~~direct and indirect subsidiaries, ADFITECH, Inc., ~~(the~~a Nevada corporation (“~~Company~~ADFITECH”), TMST Acquisition Subsidiary, Inc., ~~(“TMST~~a Delaware corporation formerly known as Thornburg Acquisition”) Subsidiary, Inc., TMST Home Loans, Inc. ~~(“TMST~~, a Delaware corporation formerly known as Thornburg Mortgage Home Loans”), Inc., and TMST Hedging Strategies, Inc., ~~(“TMST~~a ~~Hedging”~~Delaware ~~and,~~corporation ~~together~~formerly ~~with~~known ~~TMST~~as ~~Acquisition~~Thornburg ~~and~~Mortgage ~~TMST~~Hedging ~~Home~~Strategies, ~~Loans~~Inc. (collectively, the “~~Company Subsidiaries~~Debtors”), ~~entered~~filed ~~into~~voluntary apetitions ~~Settlement~~for ~~Agreement~~relief (under Chapter 11 of the ~~“Settlement Agreement”)~~United ~~with~~States ~~Amy~~Bankruptcy ~~Pell~~Code (the “~~Pell~~Bankruptcy Code”), ~~Deborah~~in ~~Burns~~the ~~(“Burns”),~~United ~~Larry~~States A.Bankruptcy ~~Goldstone~~Court for the District of Maryland (the “~~Goldstone~~Bankruptcy Court”), ~~Clarence~~under G.case ~~Simmons~~numbers 09-17787, ~~III~~09-17788, ~~(“Simmons”)~~09-17790, ~~SAF~~09-17791 ~~Financial~~and 09-17792, ~~Inc~~respectively. ~~(“SAF”),~~The ~~Karen~~Chapter ~~Dempsey (“Dempsey”),~~11 ~~Orrick,~~cases ~~Herrington &~~are ~~Sutcliffe,~~being ~~LLP~~jointly ~~(“Orrick”),~~administered ~~Thornburg~~by ~~Mortgage~~the ~~Advisory~~Bankruptcy ~~Corporation~~Court ~~(“TMAC”),~~as ~~Garrett~~Case ~~Thornburg~~No. 09-17787 (the “~~Thornburg~~Bankruptcy Cases”). ~~and~~On October 23, ~~together~~2009, ~~with~~the ~~Pell,~~Bankruptcy ~~Burns,~~Court ~~Goldstone,~~ordered ~~Simmons,~~that ~~SAF, Dempsey,~~a ~~Orrick,~~Chapter 11 ~~TMAC~~Trustee ~~and~~be ~~Thornburg,~~appointed for the ~~“Defendant~~Company, ~~Parties”)~~TMST Acquisition Subsidiary, Inc. and W.TMST ~~Clarkson~~Home ~~McDow~~Loans, JrInc. On October 26, ~~United~~2009, ~~States~~the Bankruptcy Court ordered that a Chapter 11 Trustee be appointed for ~~Region~~TMST 4Hedging Strategies, ~~relating~~Inc. toOn ~~the~~October 28, ~~settlement~~2009, ofthe ~~various~~Bankruptcy ~~claims~~Court ~~and~~entered ~~defenses~~an inorder ~~connection~~approving ~~with~~ the ~~lawsuits~~appointment ~~styled~~of Joel I. Sher, as the Chapter 11 Trustee v.for ~~SAF~~the Company, ~~Financial~~TMST Acquisition Subsidiary, Inc., etTMST ~~al.~~Home Loans, ~~Case No~~Inc. ~~10-1895~~ and W.TMST ~~Clarkson~~Hedging ~~McDow~~Strategies, JrInc., ~~United~~Additional ~~States~~information ~~Trustee~~concerning v.the ~~Orrick~~Bankruptcy ~~Herrington &~~Cases ~~Sutcliffe,~~may ~~LLP,~~be ~~Case~~obtained ~~No. 10-2619~~through ~~pending in~~ the ~~United~~Bankruptcy ~~States District~~ Court ~~for~~or ~~the~~at ~~District of Maryland, the cases having been consolidated into Case No~~http://chapter11. ~~10-1895 (collectively, the “Lawsuits”)~~epiqsystems. com/tmstinc.

~~Pursuant~~The toprovisions of the ~~Settlement~~Bankruptcy ~~Agreement,~~Code require the ~~Defendant~~Debtors ~~Parties~~to ~~have~~file ~~agreed~~monthly tooperating ~~pay~~reports with the ~~Company~~Bankruptcy $6Court during the Bankruptcy Cases.5 ~~million~~On inMarch 20, ~~cash~~2012, (the ~~“Settlement~~Chapter ~~Payment”)~~11 noTrustee ~~later~~for ~~than~~the 10Company ~~business~~filed ~~days~~on ~~from~~behalf of the ~~date~~Debtors, ~~that~~except for ADFITECH, a ~~final~~ ~~nonappealable~~report ~~order~~covering isthe ~~entered~~period byfrom ~~the~~February ~~Bankruptcy~~1, ~~Court~~2012 ~~approving~~through February 29, 2012 (the ~~terms~~“Monthly Operating ofReport”), ~~the~~attached ~~Settlement~~as ~~Agreement~~Exhibit 99.1 Inhereto ~~addition,~~and ~~the~~incorporated ~~Chapter~~herein 11by ~~Trustee,~~reference. ~~for~~ADFITECH ~~himself,~~is ~~the~~no ~~Company,~~longer a wholly-owned subsidiary of the Company ~~Subsidiaries~~and, ~~and~~therefore, ~~their~~its ~~bankruptcy~~operating ~~estates,~~reports ~~has~~are ~~agreed~~no longer required to be filed by the ~~release~~Company. Certain attachments to the ~~Defendant~~Monthly ~~Parties~~Operating ~~and~~Report ~~certain~~as ~~directors,~~filed ~~officers,~~with ~~employees,~~the ~~insurers,~~Bankruptcy ~~and~~Court ~~others~~have been omitted from ~~any~~the ~~and~~Exhibits ~~all~~attached ~~claims~~hereto. ~~and~~A ~~causes~~complete copy of ~~action,~~the ~~including~~Monthly ~~the~~Operating ~~claims~~Report ~~made~~may bybe found through the ~~Trustee~~Bankruptcy inCourt ~~the~~or ~~Lawsuits~~at http://chapter11.epiqsystems.com/tmstinc.

As previously announced, it is not expected that there will be any distribution to the Company’s equity holders in connection with ~~the~~ ~~Bankruptcy Cases under Chapter 11 of~~ the ~~United States~~ Bankruptcy ~~Code in the United States Bankruptcy Court for the District of Maryland under case numbers 09-17787, 09-17790, 09-17791, and 09-17792. The Bankruptcy~~ Cases, which are continuing under Chapter 11, are “liquidating Chapter 11” cases, which thereby afford the Chapter 11 Trustee flexibility to administer and liquidate the remaining assets and to prosecute litigation, with the ultimate goal of confirming a liquidating Chapter 11 Plan distributing estate funds to certain creditors. ~~Additional information concerning the Bankruptcy Cases may be obtained at http://chapter11.epiqsystems.com/tmstinc.~~

The ~~Settlement~~Monthly ~~Agreement~~Operating ~~also~~Report ~~provides~~is ~~that~~limited in scope, covers a limited time period and has been prepared solely for the ~~Defendant~~purpose ~~Parties~~of ~~have~~complying ~~released~~with reporting requirements of the ~~Chapter~~Bankruptcy 11Court ~~Trustee,~~and the ~~Company,~~Bankruptcy Code. The financial information contained in the ~~Company~~Monthly Operating Report is preliminary ~~Subsidiaries,~~and unaudited and does not purport to show the ~~bankruptcy~~financial ~~estates~~statements of any of the ~~Company~~Debtors ~~and~~in accordance with accounting principles generally accepted in the ~~Company~~United ~~Subsidiaries,~~States of America (“GAAP”) and, ~~others~~therefore, ~~from~~may ~~any~~exclude items required by GAAP, such as certain reclassifications, eliminations, accruals and ~~all~~disclosure ~~claims~~items. The ~~parties~~Company ~~have~~cautions ~~filed~~readers ~~stipulations~~not ofto ~~dismissal~~place undue reliance on the Monthly Operating Report. The Monthly Operating Report may be subject to ~~dismiss~~revision. The Monthly Operating Report is in a format required by the ~~Lawsuits~~Bankruptcy ~~with~~Court ~~prejudice~~and the Bankruptcy Code and should not be used for investment purposes. The information in the Monthly Operating Report should not be viewed as indicative of future results.

AIn ~~copy~~accordance with General Instruction B.2 of Form 8-K, the ~~Settlement~~information ~~Agreement~~in isthis ~~attached~~Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as ~~Exhibit~~amended, ~~99.1~~or otherwise subject to ~~this~~the ~~Current~~liabilities ~~Report~~of onthat ~~Form~~section, ~~8-K~~nor ~~and~~shall issuch information be deemed incorporated by reference. ~~The foregoing~~in ~~description~~any offiling under the Securities ~~Settlement~~Act ~~Agreement~~of is1933, ~~qualified~~as inamended, ~~its~~except ~~entirety~~as byshall ~~reference~~be toexpressly ~~the~~set ~~full~~forth ~~text~~by ofspecific ~~the~~reference ~~Settlement~~in ~~Agreement~~such a filing.

Section 9 – Financial Statements and Exhibits

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are filed as part of this report in accordance with the provisions of Item 601 of Regulation S-K:

Exhibit Number		Name of Exhibit
99.1		~~Settlement~~Monthly ~~Agreement,~~Operating ~~dated~~Report as of ~~February 13~~TMST, ~~2012, by and among Amy Pell, Deborah Burns, Larry A. Goldstone, Clarence G. Simmons, III, SAF Financial,~~ Inc., ~~Karen~~and ~~Dempsey,~~certain ~~Orrick~~subsidiaries, ~~Herrington & Sutcliffe, LLP, Thornburg Mortgage Advisory Corporation, Garrett Thornburg, Joel I. Sher, Chapter 11 Trustee~~ for the ~~bankruptcy~~period ~~estates~~February ~~of TMST~~1, ~~Inc.~~2012 ~~f/k/a~~through ~~Thornburg Mortgage, Inc., TMST Acquisition Subsidiary, Inc. f/k/a Thornburg Acquisition Subsidiary, Inc., TMST Home Loans, Inc. f/k/a Thornburg Mortgage Home Loans, Inc.~~ and ~~TMST~~including ~~Hedging~~February ~~Strategies~~29, ~~Inc. f/k/a Thornburg Mortgage Hedging Strategies~~2012, ~~Inc.,~~filed ~~and~~with W.the ~~Clarkson McDow, Jr.,~~ United States ~~Trustee~~Bankruptcy Court for ~~Region~~the 4District of Maryland.

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: March 2021, 2012

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