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		</otherManager><votingAuthority><Sole>1850000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BROOKDALE SR LIVING INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>112463104</cusip><value>54040</value><shrsOrPrnAmt><sshPrnamt>3500000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>3500000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CIT GROUP INC</nameOfIssuer><titleOfClass>COM NEW</titleOfClass><cusip>125581801</cusip><value>68607</value><shrsOrPrnAmt><sshPrnamt>2150000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>2150000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CITIZENS FINL GROUP INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>174610105</cusip><value>64935</value><shrsOrPrnAmt><sshPrnamt>3250000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>3250000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>COMPUTER SCIENCES CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>205363104</cusip><value>18656</value><shrsOrPrnAmt><sshPrnamt>375747</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>375747</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>EBAY INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>278642103</cusip><value>58525</value><shrsOrPrnAmt><sshPrnamt>2500000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>2500000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GENERAL MTRS CO</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>37045V100</cusip><value>56600</value><shrsOrPrnAmt><sshPrnamt>2000000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>2000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>42824C109</cusip><value>91350</value><shrsOrPrnAmt><sshPrnamt>5000000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>5000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KLX INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>482539103</cusip><value>38750</value><shrsOrPrnAmt><sshPrnamt>1250000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1250000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LIBERTY MEDIA CORP DELAWARE</nameOfIssuer><titleOfClass>COM A SIRIUSXM</titleOfClass><cusip>531229409</cusip><value>15680</value><shrsOrPrnAmt><sshPrnamt>500000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>500000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LIBERTY MEDIA CORP DELAWARE</nameOfIssuer><titleOfClass>COM C SIRIUSXM</titleOfClass><cusip>531229607</cusip><value>27783</value><shrsOrPrnAmt><sshPrnamt>900000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>900000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>MCDERMOTT INTL CVT PREF</nameOfIssuer><titleOfClass>PFD CONV</titleOfClass><cusip>580037141</cusip><value>25844</value><shrsOrPrnAmt><sshPrnamt>1500000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1500000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NATIONAL GEN HLDGS CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>636220303</cusip><value>4820</value><shrsOrPrnAmt><sshPrnamt>225000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>225000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NATIONSTAR MTG HLDGS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>63861C109</cusip><value>15201</value><shrsOrPrnAmt><sshPrnamt>1350000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1350000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>NAVIENT CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>63938C108</cusip><value>35850</value><shrsOrPrnAmt><sshPrnamt>3000000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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		</otherManager><votingAuthority><Sole>11350000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PJT PARTNERS INC</nameOfIssuer><titleOfClass>COM CL A</titleOfClass><cusip>69343T107</cusip><value>20700</value><shrsOrPrnAmt><sshPrnamt>900000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>900000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>QLT INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>746927102</cusip><value>4260</value><shrsOrPrnAmt><sshPrnamt>3000000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>3000000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SEARS HLDGS CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>812350106</cusip><value>34025</value><shrsOrPrnAmt><sshPrnamt>2500000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>2500000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SUNCOKE ENERGY INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>86722A103</cusip><value>20370</value><shrsOrPrnAmt><sshPrnamt>3500000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>3500000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable></informationTable>
