Corus Bankshares Inc. (fka CORSQ)

[eyeownu]

On February 4, 2010, the Company received five letters dated January 29, 2010 (the “Letters”) sent by The Bank of New York Mellon, N.A. as trustee (the “Trustee”), for certain holders (the “Securityholders”) of trust-originated preferred securities (the “TOPrS”) issued under the trusts known as Corus Statutory Trust II (“Trust II”), Corus Statutory Trust IV (“Trust IV”) and Corus Statutory Trust VII (“Trust VII”). Two of the Letters were addressed to the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to The Bank of New York) (“BONY”), as Property Trustee and as Note Trustee, with respect to Trust II established under that certain Amended and Restated Trust Agreement dated as of June 24, 2003 (the “Trust II Agreement”) holding the Floating Rate Junior Subordinated Notes due June 30, 2033 (the “Trust II Notes”) in the aggregate original amount of $20,619,000 issued under that certain Junior Subordinated Indenture dated as of June 24, 2003 (the “Trust II Indenture”) between the Company and BONY. Two of the other Letters were addressed to the Company and BONY, as Property Trustee and as Note Trustee, with respect to Trust IV established under that certain Amended and Restated Trust Agreement dated as of November 24, 2003 (the “Trust IV Agreement”) holding the Floating Rate Junior Subordinated Notes due December 15, 2033 (the “Trust IV Notes”) in the aggregate original amount of $30,928,000 issued under that certain Junior Subordinated Indenture dated as of November 24, 2003 (the “Trust IV Indenture”) between the Company and BONY. The remaining Letter was addressed to Wilmington Trust Company (“Wilmington”), as Property Trustee and as Note Trustee, relating to Trust VII established under that certain Amended and Restated Declaration of Trust dated as of September 20, 2004 (the “Trust VII Agreement” and collectively with the Trust II Agreement and the Trust IV Agreement, the “Trust Agreements”) holding the Floating Rate Junior Subordinated Deferrable Interest Debentures due September 20, 2034 (collectively with the Trust II Notes and the Trust IV Notes, the “Notes”) in the aggregate original principal amount of $51,547,000 issued under that certain Indenture dated as of September 20, 2004 (the “Trust VII Indenture”, and collectively with the Trust II Indenture and the Trust IV Indenture, the “Indentures”) between the Company and Wilmington.

Trustee: in a trust the legal ownership that the trustee has is split from the equitable or beneficial title that the beneficiary has. The trustee holds only the bare legal title to the property

Note Trustee: The Note Trustee is appointed to represent the interests of holders of issues of securities, while providing guidance to the issuer

is that essentially saying the trust was taken over by WL? If so then they own(or considered as property trustee or note trustee) 2,4,7,10,13..

Read more: http://www.faqs.org/sec-filings/100210/CORUS-BANKSHARES-INC_8-K/#ixzz0iJ9eRfS5