Wilmington Trust Appointed to Unsecured Creditors’ Committee in Corus Bankshares, Inc. Bankruptcy Case

No credit exposure involved in administrative role

WILMINGTON, Del.--(BUSINESS WIRE)--Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, said today that it has been appointed by the United States Trustee to serve as a member of the unsecured creditors’ committee in the bankruptcy of Corus Bankshares, Inc. (Corus), which is one of the largest Chapter 11 filings in the United States so far this year. Corus filed for Chapter 11 protection on June 15, 2010, 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 subordinated debt. Corus’s bankruptcy filing poses no credit or investment risk to Wilmington Trust, nor does it affect Wilmington Trust’s balance sheet. Wilmington Trust is paid a fee for the services it provides in this case.

Wilmington Trust’s CCS business offers institutional trustee, agency, asset management, retirement plan, and administrative services for clients worldwide, many of which use capital market financing structures or seek to establish or maintain legal residency for special purpose entities. Because Wilmington Trust does not underwrite securities offerings or provide investment banking services, it is able to deliver corporate trust services that are conflict-free.

Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 89 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.