Before revision:  The problem stems from the optimal liquidation of an asset position in a financial market with multiplicative price impact with stochastic resilience .
After revision:  The problem stems from the optimal liquidation of an asset position in a financial market with multiplicative and transient price impact. Liquidity is stochastic in that the volume effect process, which determines the inter-temporal resilience of the market in spirit of Predoiu, Shaikhet and Shreve (2011), is taken to be stochastic, being driven by own random noise .