NEW YORK - Real estate developer Stephen Ross's Related Cos is among the bidders for the assets of failed Corus Bank, a source familiar with the matter said on Tuesday.
Related has teamed up with entities including real estate investment firm Lubert-Adler Partners to bid on Corus's assets, the source said, declining to be identified because the process is private.
The U.S. Federal Deposit Insurance Corp seized Corus Bank, a unit of Corus Bankshares, on Sept. 11 and sold its deposits to MB Financial Inc, leaving a bulk of its assets to be sold later in a private placement.
Separately, billionaire investor Wilbur Ross told the Reuters Restructuring Summit in New York that he had teamed up with Starwood Capital Group to bid on Corus's assets.
Related declined to comment. The FDIC wasn't immediately available for comment. (Reporting by Paritosh Bansal, editing by Gerald E. McCormick)