Wilmington Trust has been appointed by the United States Trustee to serve as a member of the unsecured creditors’ committee in the bankruptcy of Corus Bankshares.
Corus filed for Chapter 11 protection on June 15 in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division.
Wilmington Trust is indenture trustee for bondholders who hold approximately $98 million of principal in subordinate debt.
Corus’s bankruptcy filing poses no credit or investment risk to Wilmington Trust, the company said.
