Publications

August 2009 (Revised February 2013)
Case

Eddie Bauer (A)

By: Paul Healy, Sharon Katz and Aldo Sesia

In June 2005, Eddie Bauer, the specialty apparel retailer, emerged from bankruptcy. Under the plan of reorganization former creditors converted their debt into common shares, taking 100% ownership in the reconstituted company. Large banks-including Bank of America and... View Details

Keywords: Financial Statements; Mergers and Acquisitions; Restructuring; Insolvency and Bankruptcy; Stock Shares; Valuation; Apparel and Accessories Industry; Retail Industry; United States

April 2021
Supplement

Exercise for Revlon: Surviving Covid-19

By: Kristin Mugford and Sarah Gulick

Exercise for Revlon: Surviving Covid-19 View Details

Keywords: Leveraged Buyouts; Insolvency and Bankruptcy; Financial Liquidity; Bonds; Corporate Finance; Borrowing and Debt; Beauty and Cosmetics Industry; Financial Services Industry; United States

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

April 1995 (Revised July 1996)
Case

Governance at Metallgesellschaft (A)

By: Jay W. Lorsch and Samanta Graff

MG Corp., a U.S. subsidiary of Germany's international conglomerate, Metallgesellschaft, engaged in a disastrous hedging strategy that nearly dragged the entire enterprise into bankruptcy. This case explores issues of responsibility and accountability among the... 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

October 2007 (Revised July 2016)
Teaching Note

Gordon Bethune at Continental Airlines

By: Anthony J. Mayo

A $385 million loss for the final months of fiscal year 1994 signaled Continental might go bankrupt. Could new CEO Gordon Bethune turn Continental around? Continental was in dire straits because the deregulation of the commercial airline industry in 1978 ushered in a... View Details

Keywords: Transformation; Insolvency and Bankruptcy; Profit; Leading Change; Organizational Change and Adaptation; Performance Improvement; Labor and Management Relations

May 1985 (Revised November 1990)
Case

Spinnaker Software Corp.

By: Howard H. Stevenson

Describes the problems faced by a company that has experienced remarkable growth, but growth which is below projections. The management must evaluate the company's position in the turbulent software industry. The two partners must then decide whether to cut back to... View Details

Keywords: Decisions; Borrowing and Debt; Insolvency and Bankruptcy; Profit; Growth and Development; Growth and Development Strategy; Problems and Challenges; Software; Information Technology Industry

March 2021 (Revised January 2022)
Case

Revlon: Surviving Covid-19

By: Kristin Mugford and Sarah Gulick

In October 2020, Revlon faced a crossroads. While it had been struggling with high levels of debt before COVID-19, the pandemic had caused it to go further into debt. Unlike other financial crises, many consumers had stopped buying skincare or cosmetics, and sales of... View Details

Keywords: COVID-19 Pandemic; Leveraged Buyouts; Insolvency and Bankruptcy; Financial Liquidity; Bonds; Corporate Finance; Borrowing and Debt; Beauty and Cosmetics Industry; Financial Services Industry; United States

27 Apr 2021
Research & Ideas

New Research: Surviving Bankruptcy, Useful Economics, and Retirement

Published Papers Do the Right Firms Survive Bankruptcy? Journal of Financial Economics Samuel Antill “In United States, Chapter 11 bankruptcy cases, firms are either reorganized, acquired, or liquidated. I show that decisions to liquidate... View Details

17 Feb 2010
News

Harrah's CFO Plans a Recovery

Keywords: Amusement, Gambling, and Recreation Industries; Arts, Entertainment

09 Dec 2010
News

Driving the Market for Big-Rig Engines

Keywords: Machinery Manufacturing; Manufacturing

February 2011 (Revised January 2017)
Case

Countrywide plc

By: Stuart C. Gilson and Sarah L. Abbott

One of the world's leading investors in distressed companies, Oaktree Capital Management, is contemplating a "loan to own" investment in the debt of Countrywide plc, a financially troubled residential real estate agent based in the U.K. Only sixteen months earlier,... View Details

Keywords: Mergers and Acquisitions; Restructuring; Financial Crisis; Capital Structure; Insolvency and Bankruptcy; Financial Management; Investment; Real Estate Industry; United Kingdom

July 2009 (Revised July 2009)
Case

Delphi Corp. and the Credit Derivatives Market (A)

By: Stuart C. Gilson, Victoria Ivashina and Sarah Abbott

In 2005, Jane Bauer-Martin, a hedge fund manager, is considering what she should do with the fund's large investment in the publicly traded bonds of Delphi Corp., a financially troubled auto parts supplier. Delphi is General Motor's key auto parts supplier, and, like... View Details

Keywords: Borrowing and Debt; Insolvency and Bankruptcy; Credit Derivatives and Swaps; Bonds; Financial Management; Risk Management

13 Sep 2016
First Look

September 13, 2016

the status quo, primarily because of the lack of a decision-making mechanism amongst the brothers. The firm rapidly went downhill, before declaring bankruptcy in 1875. Purchase this case:... View Details

October 2009 (Revised July 2014)
Teaching Note

New Century Financial Corporation

By: Suraj Srinivasan and Krishna G. Palepu

Teaching Note for [109034] and [113-002]. View Details

Keywords: Management Practices and Processes; Business Model; Financial Liquidity; Insolvency and Bankruptcy; Managerial Roles; Accounting Audits; Financial Crisis; Financial Services Industry; United States