We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Corus Bankshares' Future Looks Grim: Auditor

Law360 (April 7, 2009, 12:00 AM EDT) -- With its auditor voicing doubts about Corus Bankshares Inc.’s ability to absorb continuing losses, the teetering real estate lender is looking for buyers as a way to avoid receivership or liquidation.

In a regulatory filing Monday, Corus said its auditor had taken a dim view of the company’s chances of continuing as a going concern as its loan portfolio continues to deteriorate, and the construction lender’s heavy losses show no sign of relenting.

While Corus has been exploring strategic alternatives, whether landing a capital infusion or...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.