Creating Value through Corporate Restructuring : Case Studies in Bankruptcies, Buyouts, and Breakups

by Stuart C. Gilson

• ISBN13: 9780471405597
• ISBN10: 0471405590
• Format: Hardcover
• Copyright: 2001-08-01
• Publisher: Wiley

Summary

Gilson's book will be extremely useful for practitioners and students alike. In addition to the case studies, he provides practical advice on how investors can profit from investing in the securities of distressed companies, and illustrates how financial models can be used to estimate the value of companies in restructurings.

Author Biography

Stuart C. Gilson is a professor at Harvard Business School and a widely acknowledged expert on corporate restructuring. His research on domestic and international restructuring has been extensively published and cited in numerous national news and business periodicals. In 1996 he won the prestigious Graham and Dodd Award for his article "Investing in Distressed Situations: A Market Survey." In 1999 and 2000 he was named one of the nation’s top ten bankruptcy academics by Turnarounds and Workouts magazine.

Table of Contents

Introduction Corporate Restructuring: Challenges and Opportunities	1	(14)
PART ONE Restructuring Creditors' Claims	15	(216)
The Loewen Group Inc.	25	(29)
National Convenience Stores Incorporated	54	(29)
Continental Airlines--1992	83	(27)
Flagstar Companies, Inc.	110	(40)
Alphatec Electronics Pcl	150	(38)
Investing in Distressed Situations: A Market Survey	188	(43)
PART TWO Restructuring Shareholders' Claims	231	(84)
Humana Inc.: Managing in a Changing Industry	242	(24)
USX Corporation	266	(25)
Donald Salter Communications Inc.	291	(24)
PART 3 Restructuring Employees' Claims	315	(170)
Navistar International	323	(30)
Scott Paper Company	353	(34)
FAG Kugelfischer: A German Restructuring	387	(25)
Chase Manhattan Corporation: The Making of America's Largest Bank	412	(39)
UAL Corporation	451	(34)
Appendix A Closing the Value Gap: A Simple Framework for Analyzing Corporate Restructuring	485	(4)
Appendix B Valuing Companies in Corporate Restructurings: Technical Note	489	(18)
Index	507