Publications

22 Jul 2014
First Look

First Look: July 22

traditional commercial banks in the context of their coexistence with shadow banks. While both types of intermediaries create safe "money-like" claims, they go about... View Details

Keywords: Sean Silverthorne

June 1991 (Revised February 1994)
Case

Transportation Displays, Inc. (A)

William Apfelbaum, president and CEO of Transportation Displays, Inc., must restructure both the company's method of doing business and its liabilities to keep it from bankruptcy. The value he hopes to receive from the reorganized company will be an important issue in... View Details

Keywords: Value Creation; Restructuring; Insolvency and Bankruptcy

17 Mar 2015
First Look

First Look: March 17

Publications March 2015 Journal of Financial Economics Banks as Patient Fixed-Income Investors By: Hanson, Samuel G., Andrei Shleifer, Jeremy C. Stein, and Robert W. Vishny Abstract—We examine the business model View Details

Keywords: Sean Silverthorne

01 Mar 2010
News

Rx for Too Big to Fail

the scourge of too big to fail. One is to break up the largest financial institutions, possibly with a new and improved Glass-Steagall law. The other is to perfect a bankruptcy process for super-sized... View Details

Keywords: David Moss; Administration of Economic Programs; Administration of Economic Programs; Administration of Economic Programs; Administration of Economic Programs; Administration of Economic Programs

18 Sep 2000
Research & Ideas

Big Deals: Financing Large-Scale Investments

instead of traditional, on-balance sheet corporate finance. Consider, for instance, Iridium LLC, a $5.5-billion global satellite communications firm backed by Motorola that filed for bankruptcy in August,... View Details

Keywords: by Julia Hanna

12 Jul 2011
First Look

First Look: July 12

experiment to examine the effect of management fiduciary duties on equity‐debt conflicts. A 1991 Delaware bankruptcy ruling changed the nature of corporate directors' fiduciary... View Details

Keywords: Carmen Nobel

December 2006 (Revised January 2007)
Case

Restructuring Navigator Gas Transport Plc

By: C. Fritz Foley

How should creditors pursue their claims in a multi-jurisdiction bankruptcy? David Butters, Managing Director at Lehman Brothers, negotiates a restructuring of Navigator Gas Transport, a shipping company that is headquartered in Switzerland, incorporated in the Isle of... View Details

Keywords: Management Teams; Insolvency and Bankruptcy; Complexity; Capital Structure; Restructuring; International Finance; Law; Ship Transportation; Shipping Industry; Switzerland; Isle of Man

12 Aug 2008
First Look

First Look: August 12, 2008

the Statement of Financial Accounting Standards, No. 141R. Purchase the note: http://hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=108067 ADR Choices Harvard Business School Note 908-040 Six different business disputes, all in the... View Details

Keywords: Sean Silverthorne

15 May 2012
First Look

First Look: May 15

and monetize their sites, all in shadow of a deeply entrenched incumbent. Purchase this case:http://cb.hbsp.harvard.edu/cb/product/912009-PDF-ENG Tequila Mobile SA Hanna Hałaburda, Jerzy Surma, and Aldo... View Details

Keywords: Carmen Nobel

10 Feb 2015
First Look

First Look: February 10

Corporation, must decide whether to push JAL group, Japan's largest airline, into bankruptcy or to act as a sponsor in an out-of-court restructuring. The bankruptcy of JAL... View Details

Keywords: Sean Silverthorne

20 Apr 2017
Blog Post

Why I Love My Job: Ching Ching Chen On Her Passion For the Music Industry

development of a business plan for his label, Kravenworks. Finally, I capped off the most epic summer internship I could’ve asked for with a week shadowing Steve Barnett at Capitol Records, and was lucky... View Details

Keywords: Entertainment / Media / Sports

January 2011 (Revised July 2019)
Case

Houghton Mifflin Harcourt

By: Stuart C. Gilson and Sarah L. Abbott

One of the leading publishers of textbooks and other educational materials for the U.S. K-12 educational instruction market has suffered a dramatic decline in sales and profits in the wake of the 2008-2009 financial market crisis and economic recession, and is now... View Details

Keywords: Restructuring; Capital Structure; Financial Crisis; Insolvency and Bankruptcy; Decision Choices and Conditions; Publishing Industry; Massachusetts

15 Jun 2020
Blog Post

Black MBA Students Pen Letters to the HBS Community: Letter 1/5

March 28, 2019: 1. I am angry at the truth that lingers in this seemingly outlandish Nazi-inspired hate email received by last year's AASU leadership, which reflects the ever-present shadow of white... View Details

Profile

Andres Sarmiento

Why was earning your MBA at Harvard Business School important to you? Working at American Airlines' through the bankruptcy process made me reconsider the form of impact that I intended to have. My career... View Details

Keywords: Entrepreneurship; Technology; Services

23 Feb 2018
Working Paper Summaries

Trade Creditors' Information Advantage

Keywords: by Victoria Ivashina and Benjamin Iverson

March 2000 (Revised April 2003)
Case

Iridium LLC

By: Benjamin C. Esty, Fuaad Qureshi and William J Olson

This case involves part of a module on financing large projects in the elective curriculum course entitled "Large-Scale Investment." It is set in August 1999, just after Iridium, a global communications firm, declared bankruptcy. Although the case describes Iridium's... View Details

Keywords: Project Finance; Insolvency and Bankruptcy; Financial Strategy; Communications Industry; Technology Industry

07 Apr 2015
First Look

First Look: April 7

the role of trading in bankruptcy. We find that trading during the case leads to higher concentration of ownership, particularly among debt claims that are eligible to vote on the View Details

Keywords: Sean Silverthorne

June 1991 (Revised May 1992)
Case

Cumberland Worldwide Corp. (B)

Cumberland has been in Chapter 11 for 18 months and is trying to formulate a plan of reorganization that will satisfy a variety of claimants. Teaching objective: valuation and negotiation issues. View Details

Keywords: Negotiation; Valuation; Restructuring; Insolvency and Bankruptcy