WCI Communities Emerging From Chapter 11
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WCI Communities, Inc. has emerged from Chapter 11 as a newly reorganized, private company, eliminating more than $2 billion in debt and liabilities.
The Company also announced that five individuals have been selected to serve on a newly constituted board of directors. Effective immediately the board will be:
Patrick J. Bartels, Jr. is Vice President of Monarch Alternative Capital LP, a private investment firm with approximately $2.5 billion of assets under management.
Michelle M. Mackay is an Executive Vice President of iStar Financial Inc., a publicly traded finance company focused on the commercial real estate industry.
John R. Peshkin is the Managing Principal of Vanguard Land, LLC, a private real estate investment group.
Stephen D. Plavin is the Chief Operating Officer of Capital Trust, a commercial mortgage REIT and investment manager.
Mark Porath is a co-founder and President of Hearthstone.
The Company also announced that five individuals have been selected to serve on a newly constituted board of directors. Effective immediately the board will be:
Patrick J. Bartels, Jr. is Vice President of Monarch Alternative Capital LP, a private investment firm with approximately $2.5 billion of assets under management.
Michelle M. Mackay is an Executive Vice President of iStar Financial Inc., a publicly traded finance company focused on the commercial real estate industry.
John R. Peshkin is the Managing Principal of Vanguard Land, LLC, a private real estate investment group.
Stephen D. Plavin is the Chief Operating Officer of Capital Trust, a commercial mortgage REIT and investment manager.
Mark Porath is a co-founder and President of Hearthstone.
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