Azuba liquidating trust


14-Oct-2020 07:21

The most current financial information can be found in the Consolidated Financial Statements section of this website. Ray III was appointed Liquidating 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.

Matt Doheny has over twenty years of experience in the distressed investing, turnaround and restructuring industry. Weber has over 35 years of experience in litigation support and expert witness work, restructuring consulting (both debtor and creditor) and auditing. Weber began his career at Price Waterhouse and served in a variety of positions and practices (including a 2-year foreign tour), leaving as a partner after 22 years.

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. As of December 17, 2013, the Effective Date of the Plan, the Liquidating Trust beneficially owned approximately 80 properties located in 34 states. In addition, any real property acquired subsequent to that date in connection with foreclosure proceedings has been and will be conveyed directly to Res Cap Securities Holdings Co., rather than to the Liquidating Trust. Between December 17, 2013 and January 15, 2014, the Trust sold four properties, on which no gain or loss was recognized for income tax purposes.

He is the founder of North Country Capital, an investment and advisory firm where he currently serves as President. Doheny served as a Managing Director and helped lead the Distressed Products Group of Deutsche Bank Securities Inc. Prior to Deutsche Bank, he was a bankruptcy attorney in the corporate reorganization groups of Orrick and Kelley Drye. Doheny currently serves on the boards of YRC Worldwide Inc, Affinity Gaming, Arcapita Inc (RA Holdings) and Eastman Kodak 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.

For example, a Beneficiary whose per Unit adjusted tax basis exceeds that of a Unit acquired from the Trust as of December 17, 2013 may conclude that the excess basis is attributable to the Trust’s litigation claims and that, therefore, its per Unit share of the income recognized from specific litigation recoveries is less than that reported by the Trust.

to liquidate and distribute assets of the debtors in the Res Cap bankruptcy case.



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