Corus Trustee Targets Ex-Execs Over Demise

Law360, New York (June 14, 2012, 12:27 PM EDT) -- Corus Bankshares Inc.’s liquidation trustee sued the real estate lender’s former top executives in Illinois federal bankruptcy court on Wednesday, alleging their reckless lending practices brought about the company’s downfall.

Trustee Salvatore A. Barbatano launched an adversary suit against Corus' former CEO Robert Glickman and former chief financial officer Tim Taylor. The pair failed to curtail Corus’s large commercial real estate portfolio in 2007 despite signs of a total collapse in the housing market, the adversary complaint alleges.

In addition, Glickman and Taylor abused their positions...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Corus Bankshares, Inc.


Case Number

1:10-bk-26881

Court

Illinois Northern

Nature of Suit

Date Filed

June 15, 2010

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.