Publications

December 2002 (Revised June 2003)
Case

Vignette: The Rebar Dilemma

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Martin Smith, a new associate at an LBO firm, must respond to a problem posed by his boss, based on an historical deal that suddenly came undone. After months of negotiation, his firm's plan to buy a bankrupt competitor of one of its portfolio companies and close it... View Details

Keywords: Leveraged Buyouts; Insolvency and Bankruptcy; Competition; Growth and Development Strategy; Business or Company Management

April 2006 (Revised December 2006)
Case

The Barber of Buenos Aires: Argentina's Debt Renegotiation

By: Noel Maurer and Aldo Musacchio

Tells the story of Argentina's aggressive strategy for renegotiating its sovereign debt from 2003 to 2005. Most creditors accepted the offer to swap their debt for new securities worth 35 cents on the dollar, with no recognition of all past-due interest. Many holdouts,... View Details

Keywords: Private Sector; Borrowing and Debt; Insolvency and Bankruptcy; International Finance; Foreign Direct Investment; Sovereign Finance; Government and Politics; Negotiation Tactics; Outcome or Result; Situation or Environment; Argentina

June 1991 (Revised July 1993)
Case

Sunbeam Oster Co., Inc.

By: Steven R. Fenster

Japonica Partners, an investment firm, is trying to determine whether there is any unseen value in Sunbeam Oster Co., Inc., a Chapter 11 debtor. If there is, Japonica must consider the means by which they can acquire control of a company in Chapter 11. View Details

Keywords: Valuation; Insolvency and Bankruptcy; Acquisition; Financial Services Industry

April 1995 (Revised July 1996)
Supplement

Governance at Metallgesellschaft (B)

By: Jay W. Lorsch and Samanta Graff

Supplements the (A) case. View Details

Keywords: Business Subsidiaries; Corporate Accountability; Business Conglomerates; Governing and Advisory Boards; Insolvency and Bankruptcy; Corporate Governance; Mining Industry; Chemical Industry; Germany; United States

16 Sep 2014
First Look

First Look: September 16

acceded to the European Union and in 2008 to the Eurozone. However, in 2012, facing fiscal deficits and an insolvent banking sector, the island became the fourth EU country to... View Details

Keywords: Sean Silverthorne

04 May 2009
Research & Ideas

What’s Next for the Big Financial Brands

valuable brands list. The rival 2008 Interbrand ranking of the top 100 global brands included 13 financial services brands. Citi appeared on both lists. Today, with its brand reputation seriously damaged, Citi's stock price is in the doldrums View Details

Keywords: by John Quelch; Banking; Financial Services

August 2011 (Revised November 2018)
Case

Lind Equipment

By: Richard S. Ruback and Royce Yudkoff

Lind Equipment failed to meet its loan covenants with its senior bank lender in the summer of 2008, just six months after it was acquired. While the senior bank debt comprised only 6% of the capital used in the acquisition and was fully secured, it exercised its right... View Details

Keywords: Financial Condition; Borrowing and Debt; Capital; Revenue; Financing and Loans; Financial Strategy; Financial Management; Acquisition; Financial Crisis; Currency Exchange Rate; Insolvency and Bankruptcy; Manufacturing Industry; Industrial Products Industry

06 Apr 2010
First Look

First Look: April 6

Case 210-056 This two-page case demonstrates how to unbundle the cost of credit extensions from product prices by observing the price of a credit default swap. It also explores how credit default swaps work, and how trade creditors are... View Details

Keywords: Martha Lagace

12 Feb 2007
Lessons from the Classroom

‘UpTick’ Brings Wall Street Pressure to Students

Students whose investments have fallen below margin requirement levels are being told they have sixty seconds to liquidate part of their portfolio to cover—effectively locking in a loss—or gamble that their investments will recover before View Details

Keywords: by Julia Hanna; Financial Services; Education

12 Aug 2008
First Look

First Look: August 12, 2008

Amazon.com: The Brink of Bankruptcy Harvard Business School Case 809-014 Enables a thorough analysis of the Amazon.com business model and its evolution from 1994 to 2001. The case ends with the company... View Details

Keywords: Sean Silverthorne

19 May 2009
First Look

First Look: May 19, 2009

bonds, roles of board members, calculation of an employee stay-put bonus pool, subcontractor and vendor communication, and reputational issues around bankruptcy or closure of a... View Details

Keywords: Martha Lagace

April 2023
Case

Burning the Sails to Save the Ship: The Pilati Family Dilemma

By: Lauren Cohen, Hao Gao, Jiawei Ye and Grace Headinger

Octavian Graf Pilati, rising generation member of an Austrian princely family, prepared to sell the palace his family had held for over three hundred years. In recent years, the Pilati family lands had been leveraged as loan collateral for an international venture that... View Details

Keywords: Family Office; Family; Plant-Based Agribusiness; Agribusiness; Family Business; Property; Identity; Culture; Ethics; Insolvency and Bankruptcy; Governance; Crisis Management; Family and Family Relationships; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry; Austria

24 Dec 2013
First Look

First Look: December 24

incentives of collateralized loan obligations (CLOs). Purchase this case: http://hbr.org/product/note-on-the-leveraged-loan-market/an/214047-PDF-ENG Harvard Business School Case 214-035 Oaktree and the Restructuring of CIT Group (A) CIT's... View Details

Keywords: Carmen Nobel

05 Sep 2007
First Look

First Look: September 5, 2007

secondary art market and increasingly strong competitors. Purchase this case: http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=808027 A Strategic Perspective on Bankruptcy Harvard Business... View Details

Keywords: Martha Lagace

March 2004 (Revised May 2004)
Case

Governance Reform at MCI

By: Lynn S. Paine and Bridget Gurtler

Richard Breeden proposed corporate governance reforms for MCI. Breeden is a former chairman of the SEC who was a court-appointed "corporate monitor" for the troubled company (formerly WorldCom). The company must adhere to the proposals unless excused by a court order. View Details

Keywords: Corporate Governance; Restructuring; Insolvency and Bankruptcy; Business or Company Management; Management Teams

2010
Working Paper

When Do Analysts Add Value? Evidence from Corporate Spinoffs

By: Emilie Rose Feldman, Stuart Gilson and Belen Villalonga

We investigate the information content and forecast accuracy of 1,793 analyst reports written around 62 spinoffs—a setting in which analysts' ability to inform investors is potentially very high. We find that analysts pay little attention to subsidiaries about to be... View Details

Keywords: Earnings Management; Mergers and Acquisitions; Business Subsidiaries; Restructuring; Forecasting and Prediction; Insolvency and Bankruptcy; Initial Public Offering; Price; Reports; Research