– USA, MN – The ResCap Liquidating Trust (OTC:RESCU) today announced the appointment of David Pauker to its Board of Directors. Mr. Pauker is currently a member of the Board of Directors of reorganized Lehman Brothers. Mr. Pauker is a turnaround manager and restructuring advisor with more than 25 years of experience in a broad array of industries. Mr. Pauker succeeds John Dubel who has served on the Board since ResCap’s exit from bankruptcy.
Board Chairman Mitchell Sonkin commented: “David’s experience and strong track record in bankruptcies and restructuring in the financial services industry will significantly benefit the Board as we continue to vigorously pursue litigation claims against banks and financial institutions and resolve the remaining legacy matters of the Trust. We look forward to David’s advice, guidance and counsel.”
Mr. Sonkin continued: “On behalf of the entire Board, I also want to thank John Dubel for his 3 1/2 years of dedicated service to the Trust both as a Board member and Liquidating Trust Manager as well as his service as Co-Chairman of the Official Committee of Unsecured Creditors during the bankruptcy. John’s hard work and extensive experience in the residential mortgage area was instrumental in the Trust’s success. We will miss John’s exceptional skills and insights.”
Mr. Pauker was appointed to the Board by KLS Diversified Asset Management LP, who succeeded to the right of appointment pursuant to the terms of the Trust’s Liquidating Trust Agreement.
About the ResCap Liquidating Trust
The ResCap Liquidating Trust was established in December 2013 under the Second Amended Joint Chapter 11 Plan of Residential Capital, LLC, et al. to liquidate and distribute assets of the debtors in the ResCap bankruptcy case.
For more information : http://www.rescapliquidatingtrust.com
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