The Liquidating Trust owns all of the stock of two US corporations – RFC Foreign Equity Holding Co. – that owned the stock of several foreign corporations.The foreign corporations have all been liquidated as of December 31, 2017.Prior to joining UBS, he was the chief executive officer of Braver Stern Securities from 2010-2011. Bonaventure University in 1980 and completed the Harvard Business School Advanced Management Program in 1992. 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. The reduction in the assets held in bailment between December 17, 2013 and December 31, 2017 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.
The Liquidating Trust did not directly own any stock of any foreign corporation.
The Liquidating Trust files income tax returns in those states in which it determines it has a filing obligation.
Res Cap Liquidating Trust’s mission is to maximize returns to Unitholders by vigorously pursuing and resolving the mortgage correspondent litigation, monetizing the Trust’s remaining assets in a timely and efficient manner and finalizing resolution of remaining claims.
The Res Cap Liquidating Trust was established in December 2013 under the Second Amended Joint Chapter 11 Plan of Residential Capital, LLC, et al.
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