Jon Bauer

Chief Executive Officer & Chief Investment Officer

Mr. Bauer is a founding member and CEO/CIO of Contrarian Capital Management, L.L.C. and leads the firm’s corporate investment activities. Mr. Bauer has 34 years of experience investing in both active and passive distressed securities. He has headed or served on numerous bank debt, bond, or trade claims committees and is a founding member of the Trade Claims Buyers Association. He has served on a number of Board of Directors including International Coal and Special Metals Corp. From 1986 until 1995, Mr. Bauer was a Managing Director at Oppenheimer and Co. where he founded the distressed sales and trading business and was the co-Portfolio Manager of the Oppenheimer Horizon distressed securities partnerships which commenced operations in 1987. From 1981 to 1986, he was the Senior Analyst in the Bankruptcy Group at Bear Stearns where he originated and helped execute the successful control investment in Revere Copper and Brass. From 1977 to 1979, Mr. Bauer was an Analyst in the Credit Audit Department of The Chase Manhattan Bank N.A. and was responsible for identifying companies in the Bank’s loan portfolio that were likely to default. He received his MBA from Harvard Business School and a BA (with Honors) from Rutgers College.

Janice Stanton, CFA

President & Portfolio Manager

Ms. Stanton is a founding member and President of Contrarian Capital Management, L.L.C. She works closely with Jon Bauer on the firm’s corporate investments activities, with a particular focus on senior secured corporate investments. She has 30 years of experience in distressed securities. Prior to co-founding Contrarian, Ms. Stanton was the Founder and Head of the Bank Debt and Trade Claims desk at Oppenheimer & Co. from 1986-1995, and was responsible for bank debt and trade claim investments in the Oppenheimer Horizon partnerships as well as for outside clients. From 1985-1986, she was an Associate in the Corporate Finance Department of Lehman Brothers (“Lehman”) and worked on equity and debt financings as well as the first principal LBO investment made by Lehman. Prior to business school, Ms. Stanton was an Analyst with Booz Allen Hamilton, focusing on business strategy consulting. She has served on numerous bank debt committees, including Audio Visual Services, Pillowtex and Warnaco. She has also chaired and served on Official Committees of Unsecured Creditors, such as in the case of Service Merchandise and Edison Brothers. Ms. Stanton received her MBA from the Stanford University Graduate School of Business and graduated magna cum laude with a BS from The Wharton School of the University of Pennsylvania. Ms. Stanton is a CFA charterholder.

Gil Tenzer

Portfolio Manager & Director of Real Estate Investments

Mr. Tenzer is a founding member of Contrarian and the Portfolio Manager of the firm’s real estate fund series. Since Contrarian’s formation in 1995, Mr. Tenzer has been responsible for sourcing, managing and coordinating the disposition of the Firm’s real estate investments, as well as taking an active role in Contrarian’s corporate investments. Mr. Tenzer has chaired and served on several creditor and unofficial bondholder committees. Prior to co-founding Contrarian, from 1993 to 1995, Mr. Tenzer served as Co-Head of the High-Yield Real Estate Group at Oppenheimer & Co. (“Oppenheimer”), as well as a Senior Analyst at the firm. Prior to Oppenheimer, Mr. Tenzer worked at Arthur G. Cohen and was responsible for the analysis, financing, acquisition, disposition, restructuring and asset management of a nationwide portfolio of investments in the real estate, lodging, restaurant, aviation, and manufacturing industries. Mr. Tenzer received his MBA from the University of Pennsylvania’s Wharton School of Business and a BS in Business Administration cum laude from Georgetown University.