Attached files
file | filename |
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8-K/A - 8-K/A - CORUS BANKSHARES INC | c96031e8vkza.htm |
EX-99.2 - EXHIBIT 99.2 - CORUS BANKSHARES INC | c96031exv99w2.htm |
EX-99.3 - EXHIBIT 99.3 - CORUS BANKSHARES INC | c96031exv99w3.htm |
Exhibit 99.1
Global Securities Solutions
Bank of America, N.A.
Bank of America, N.A.
January 5, 2010
Alesco Preferred Funding IX
c/o US Bank
US Bank Corporate Trust Services
One Federal Street, 3rd Floor
Boston, MA 02110
Attn: Michael Quaile
c/o US Bank
US Bank Corporate Trust Services
One Federal Street, 3rd Floor
Boston, MA 02110
Attn: Michael Quaile
Re: NOTICE OF DEFAULT
This Notice of Default relates to the Junior Subordinated Debt Securities due March
15, 2036 (the Debt Securities), issued by Corus Bankshares, Inc., a bank
holding company incorporated in Minnesota (the Company), in connection with the
preferred securities (the Capital Securities) issued by Corus Statutory Trust
XI (the Trust) and the related guarantee of the Capital Securities by the
Company. We refer to that certain Indenture (the Indenture), dated as of
December 19, 2005, by and between the Company and Bank of America, N.A. (as successor by
merger to LaSalle Bank National Association) as trustee (the Trustee) and that
certain Amended and Restated Declaration of Trust, dated as of December 19, 2005, by and
between the Trustees, Administrators and Sponsor (all as defined therein) and the holders
from time to time of undivided beneficial interests in the assets of the Trust (the
Declaration of Trust). Capitalized terms used herein and not defined herein
shall have the meanings ascribed to such terms in the Indenture and the Declaration of
Trust.
On September 11, 2009, Corus Bank, N.A., a wholly-owned subsidiary of the Company,
was closed by the Office of the Comptroller or the Currency, and the Federal Deposit
Insurance Corporation (the FDIC) was named Receiver. Pursuant to Sections 5.01
and 5.08 of the Indenture, this shall constitute notice of the occurrence of an Event of
Default pursuant to Section 5.01(e) of the Indenture as a result of the Company
consenting to the appointment of or taking possession by a receiver of a substantial
part of its property. Please notify all owners of Debt Securities of the occurrence of
such Event of Default.
IL4-540-18-09
540 West Madison Street, Chicago, IL 60661-2591
540 West Madison Street, Chicago, IL 60661-2591
Copies of the Indenture and Declaration of Trust are available by writing or
calling the Trustee at:
Bank of America, N.A.
540 West Madison Street, 18th Floor
Chicago, Illinois 60661
Attention: Global Securities Solutions Corus Statutory Trust XI
Telephone: 312-992-0663
540 West Madison Street, 18th Floor
Chicago, Illinois 60661
Attention: Global Securities Solutions Corus Statutory Trust XI
Telephone: 312-992-0663
Please contact Robert Kruse at (312) 992-0663 with any questions.
Very truly yours, BANK OF AMERICA, N.A., as Trustee and Institutional Trustee |
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By: | /s/ Robert W. Kruse, III | |||
Name: | Robert W. Kruse, III | |||
Title: | Vice President | |||