At home bondholders39 liquidating trust
is a Group Managing Director and heads the UBS Non-Core and Legacy division. He was promoted to chief financial officer in 1996 and held that title through 2008. Molinaro has also served as a director of the Securities Industry and Financial Markets Association (SIFMA). He was promoted to chief operating officer in 2007. Molinaro was a member of the Bear Stearns’ Management and Compensation Committee from 1998 through 2008.Cap Re provided reinsurance on mortgage loans originated by GMAC Mortgage LLC and its affiliates and correspondent lenders through entering into reinsurance agreements with various primary mortgage insurers in which the company assumed the risk of loss in excess of various loss percentages.Effective December 31, 2008, Cap Re ceased reinsuring new risk, placing the existing reinsurance agreements into run-off in accordance with their terms.The most current financial information can be found in the Consolidated Financial Statements section of this website. Ray III was appointed Liquidation Trust Manager (“LTM”) on November 18, 2016. Ray served as Chief Counsel to the Trust from September 2015. Ray is Senior Managing Director of Greylock Partners, LLC. Ray has served in various capacities with respect to Chapter 11 bankruptcy estates. Ray served as Chief Restructuring Officer of Overseas Shipping Group and from 2014 to 2015, Chairman of the Board of Overseas Shipping Group. Ray has served as the principal officer of Nortel Networks, Inc. Ray served as the Chairman of the Restructuring Committee of the Board of GT Technologies. Ray was Chairman of the post confirmation Board of Enron Corporation and, from 2005 to 2009, President of post confirmation Enron Corporation. He was also a member of the Board of MBIA Insurance Corporation and Capital Markets Assurance Corporation. Sonkin was Managing Director and Head of the Insured Portfolio Management Division. Sonkin was formerly senior partner and co-chair of the Financial Restructuring Department at the Wall Street law firm Cadwalader, Wickersham & Taft and a member of its Management Committee. Sonkin was a senior partner at the international law firm, King & Spalding, where he was co-chair of King & Spalding’s Financial Restructuring Group and a member of the firm’s Policy Committee. to liquidate and distribute assets of the debtors in the Res Cap bankruptcy case. Ray has extensive experience as a chief restructuring officer and plan administrator in notable bankruptcy cases and situations involving Overseas Shipholding Group Inc., Nortel Networks Inc. As of November 9, 2016, the Trust has generated litigation settlements of approximately 6.9 million. Prior thereto, he spent 22 years at Bear Stearns, where he was executive vice president, chief operating officer and chief financial officer of The Bear Stearns Companies Inc. After his time at Price Waterhouse, he served as a Senior Managing Director at FTI Consulting. Weber has served on the Contra Costa Civil Grand Jury, performed occasional independent consulting projects and assumed board/trustee positions. Weber currently serves on Board of Directors of winery Truett Hurst, Inc., and chairs the audit committee.Distributions are made to Unitholders as of a distribution record date established by the Board which will be between 15 to 30 days before the distribution date.
Effective as of January 15, 2014, the Liquidating Trust contributed those properties (as well as certain interests in mineral rights that have only nominal value) to Res Cap Securities Holdings Co., a wholly-owned U. It is contemplated that the corporate subsidiary is a United States real property holding corporation within the meaning of section 897 of the U. The Trust is a liquidating trust for federal and, if applicable, state income tax purposes.to liquidate and distribute assets of the debtors in the Res Cap bankruptcy case. Sonkin has lectured and served on panels covering topics such as distressed debt trading, utility restructurings and life insurance company reorganizations. Sonkin is a cum laude graduate of the Temple University College of Liberal Arts where he earned a bachelor’s degree in political science and currently serves as a member of the Board of Visitors. He is CEO of Dubel & Associates, LLC, a firm that provides restructuring services to boards and companies. Dubel is currently serving as Chief Executive Officer of Sun Edison, Inc., a renewable energy company, which he is leading through a chapter 11 proceeding. Dubel has previously been a Managing Director of Gradient Partners, L. Among others, he has served as Chief Executive Officer of Financial Guaranty Insurance Company, Chief Restructuring Officer of Anchor Glass Container Corporation and Acterna Corporation, President and Chief Operating Officer at RCN Corporation, Chief Executive Officer of Cable & Wireless America, and CFO at World Com, Inc. Dubel received a Bachelor in Business Administration degree from the College of William and Mary.The Liquidating Trust, through its agents, shall wind down the affairs of and dissolve the Debtors and their subsidiaries including the Non-Debtor subsidiaries. Prior to his role as an advisor, he served as Executive Vice President and Chief Portfolio Officer for the company. Sonkin was responsible for the oversight of MBIA’s 8 billion global portfolio of insured municipal, corporate and structured finance credits, including, all workout, restructuring and litigation related remediation activities. and international workouts and restructurings, corporate reorganization and insolvency matters, and has served as a court appointed examiner. Sonkin has played a significant role in complex structured finance, corporate, infrastructure, utility, healthcare and insurance company reorganizations and served as chief counsel in the rehabilitations of Mutual Benefit Life and Confederation Life Insurance (U. The Res Cap Liquidating Trust was established in December 2013 under the Second Amended Joint Chapter 11 Plan of Residential Capital, LLC, et al.Assets that are held by the Debtor entities under these circumstances are referred to as assets held in bailment. The assets held in bailment are consolidated into the Liquidating Trust Financial Statements and are included in the appropriate line items on the Consolidated Statement of Net Assets in Liquidation, as follows: Res Cap Liquidating Trust 2014 Quarterly Summary Report – UNAUDITED Statement of Net Assets in Liquidation (Liquidation Basis) (in 000’s) The reduction in the assets held in bailment between December 17, 2013 and September 30, 2014 is primarily attributable to the initial distribution and the bank accounts of the Debtors being novated to the Liquidating Trust following the plan effective date.
Additional assets were transferred to the Trust as circumstances warranted.However, any such income may be treated as United States source income that is subject to withholding for non-U. Unitholders at a 30% rate (or lower applicable treaty rate).