FDIC may seize 'critically undercapitalized' Chicago-based lender
By Becky Yerak | Tribune reporter
August 2, 2009
"The majority of the interest has been voiced by real-estate-related entities," said Michael Goldsmith, managing director and commercial real estate head for BBK, a business consulting firm. "I heard Lubert Adler was looking at it, and they're very sophisticated real estate investors." At least one Chicago-area banker, who asked not to be identified, believes the more-likely scenario will have the FDIC arranging for a traditional bank to buy Corus' deposits and branches, and non-banks to acquire the assets, including loans and foreclosed properties.
"They're enormous loans and very complicated, and I don't think any bank wants to take them on even with FDIC guarantees," the Chicago small business lawyer said.
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