The Corus Bank, N.A., seizure absolutely would reflect on the existence of Corus Bankshares.
The Bank itself made up substantially all of the assets held by Corus Bankshares, Inc., the holding company. However, when the FDIC seized Corus Bank, N.A., the only liabilities they assumed were the Deposits.
After the seizure, Corus Bankshares, Inc., the holding company, was only left with a couple hundred million dollars worth of assets, consisting mostly of tax refunds, which are at the center of the current legal battle with the FDIC. Against that drastically diminished asset base, they still had liabilities in excess of $400 million to the TOPrS, other unsecured debt that was around $100 million, plus the outstanding FDIC claims.
There was no chance the old equity in the holding company could have survived after Corus Bank, N.A., got seized.
"The penny stock investor may be the most dangerous creature in the investment world, at least to himself.[...]His hypocrisy becomes most apparent when he then blames his losses on the greed of others." Robert C. Dugan, Director - JRM Capital
