Corus Bankshares Inc. (fka CORSQ)

[tweaktheflange]

I've been doing a bit of research online trying to find a similar situation where a bankrupt company has emerged from BK through a merger and managed to keep NOLs in tact.

I found that in June 2010 a private investment firm, Signature Group Holdings LLC successfully reorganized Fremont General Corp.

Fremont's $769MM NOLs were kept in tact to offset Signature's future taxable income.

Commons were also preserved and FMNTQ shares started trading as SGGH on June 11, 2010.

I'm just trying to make sense of it all and figure out how much the commons got out of the deal. What value did they get for the NOLs?

Pretty similar situation no?

Links:

http://www.prnewswire.com/news-releases/former-subprime-lender-fremont-general-corp-exits-chapter-11-under-court-approved-reorganization-plan-of-signature-group-holdings-96303899.html

http://www.kccllc.net/documents/0813421/0813421100525000000000001.pdf

http://www.mandersonllp.com/Tax_Assets_Spark_Unusual.html