Corus Bankshares Inc. (fka CORSQ)

[hang ten]

VC, no flip flop here.. If any of this planning was up to me I'd come up with a situation where I could move forward here and be happily surprized if CBI wins those refunds..

The NOL assets are around $650m, I think it's been calculated that a co can use around a 1/3 of them(?) Either way why not go with a scenario that is more likely than not?

Thus, plan sponsor would work out a deal with the creditors, giving them a chance to participate in new entity, via debt for equity.

If the creditors don't go this route, they might lose refunds and end up looking like chickens in a well combed barnyard.. ie squabbling over a lousy $28million and diminishing CBI bank account.