The Wall Street Journal reports on the latest in the liquidation of Thornburg Mortgage -- once the nation's second largest independent mortgage company -- as court-appointed trustee, Joel I. Sher, files what the WSJ calls a "pre-emptive campaign" against Bank of America.

This latest move involves Bank of America and its Countrywide mortgage lending subsidiary. Anticipating that Bank of America would file a motion to dismiss in the Thornburg case, the Chapter 11 Trustee, Mr. Sher of Shapiro Sher Guinot & Sandler, filed a motion in federal bankruptcy court, to initiate discovery regarding Bank of America's liability.