Case | HBS Case Collection | October 2002 (Revised August 2004)

Canary Wharf

by William J. Poorvu, Arthur I Segel and Camille Douglas

Abstract

On September 25, 2002, Peter Anderson was due to meet with Morgan Stanley in ten minutes. Anderson had been the finance director of Canary Wharf Group (CWG) since Paul Reichmann and a group of investors had repurchased Canary Wharf in 1995. Anderson had joined Olympia & York in 1989 to finance Canary Wharf and had struggled through the bankruptcy of the project and its parent company, Olympia & York. He had stayed with Reichmann through those difficult years and worked with him to buy back the project from the banks. Largely due to Anderson's ability to raise the capital necessary for Canary Wharf to fund its growth, the project was now universally acclaimed as hugely successful. Anderson had now invested over half his professional life in Canary Wharf and he was anxious to find a solution to the conflicting objectives of the CWG.

Keywords: Entrepreneurship; Negotiation; Business or Company Management; Financial Management; Financial Strategy; Financing and Loans; Crisis Management; Problems and Challenges; Insolvency and Bankruptcy; Success;

Citation:

Poorvu, William J., Arthur I Segel, and Camille Douglas. "Canary Wharf." Harvard Business School Case 803-058, October 2002. (Revised August 2004.)