Chicago-based Corus Bankshares, which was badly hurt with failed loans
to Florida condo projects, is looking for a recapitalization or a sale
to repair its battered financial condition. Potential buyers include
Los Angeles billionaire Thomas Barrack’s Colony Capital LLC and Related
Cos., Stephen Ross’s New York development company, according to reports.
Distressed banking assets are of particular interest to vulture
investors. [more]