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• Case | HBS Case Collection | 2013 (Revised from original 2013 version)

  W.R. Grace & Co: Dealing with Asbestos Torts

  Stuart C. Gilson and Sarah L. Abbott

  A manufacturer of buildng prducts and specialty chemicals, W. R. Grace & Co. filed for Chapter 11 bankruptcy in 2001 in response to a flood of lawsuits alleging that its products contained asbestos, and had caused hundreds of thousands of people to contract asbestos-related diseases such as mesothelioma and lung cancer. Nine years later, Grace is poised to emerge from bankruptcy with a plan of reorganization that provides for the establishment of two special purpose trusts through which all current and future asbestos claims will be channeled, allowing the company to survive as an ongoing business. However, the company and asbestos claimholders' committees materially disagree over the size of the company's liability for asbestos, and have hired experts to value the liability. Grace's expert argues the liability is worth between $83 million and $173 million, while the plaintiff's expert argues the liability could be as high as $6.2 billion.

  Keywords: restructuring; valuation; capital structure; crisis management; bankruptcy reorganization; business failures; environmental regulations; class action lawsuits; Natural Environment; Valuation; Health Disorders; Capital Structure; Restructuring; Lawsuits and Litigation; Chemicals; Crisis Management; Insolvency and Bankruptcy; Legal Liability; Construction Industry; Chemical Industry; United States;

  Citation:

  Gilson, Stuart C., and Sarah L. Abbott. "W.R. Grace & Co: Dealing with Asbestos Torts." Harvard Business School Case 213-046, February 2013. (Revised from original December 2012 version.)

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• Case | HBS Case Collection | 2013 (Revised from original 2010 version)

  Triple Point Technology

  Richard S. Ruback and Royce Yudkoff

  The founding CEO of Triple Point Technology, Peter Armstrong, was considering the sale of the company. The company specialized in providing its clients with software used for transaction processing and risk management in various commodity markets. Triple Point Technology had grown substantially in its 13 years of existence and potentially was a source of a significant amount of wealth for its owners. The sale was prompted by a co-founder who wanted to sell his share of the business. The case explores the rationale for owners to monetize at least a portion of their company's value, the sales process, and compares two different offers from the perspective of the company's executives that will have a significant continuing interest in it.

  Keywords: Business Exit or Shutdown; Private Equity; Financial Management; Negotiation Offer; Sales; Valuation;

  Citation:

  Ruback, Richard S., and Royce Yudkoff. "Triple Point Technology." Harvard Business School Case 211-057, January 2013. (Revised from original December 2010 version.)

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• Case | HBS Case Collection | 2012

  Antoine Leboyer and ABR

  Richard S. Ruback and Royce Yudkoff

  Antoine Leboyer (HBS '92) acquired the Swiss-based software company ABR in February 2008. He managed through the recession of 2008-2009, dealt with a tumultuous separation from the founder/owner, rebuilt the management team, and upgraded the company's software development. By mid-2012 Leboyer believed ABR was positioned to invest in product development. His investment partner, however, wanted the company to focus on increasing profitability and cash flows.

  Keywords: small business; corporate finance; Acquisitions; Private Equity; Growth Management; France; Switzerland;

  Citation:

  Ruback, Richard S., and Royce Yudkoff. "Antoine Leboyer and ABR." Harvard Business School Case 213-055, October 2012.

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