Background Note | HBS Case Collection | November 2006 (Revised August 2012)

A Strategic Perspective on Bankruptcy

by Bill George, Jim Sharpe and Andrew N. McLean


An overview of bankruptcy procedures in U.S. courts, recent filing data and a framework for evaluating a reorganization with creditors or considering opening a court-supervised reorganization under Chapter 11 of the Bankruptcy Code.

Keywords: bankruptcy; financial crisis; financial distress; turnarounds; crisis management; legal aspects of business; negotiation; liquidation; boards of directors; hedge funds; Strategy; Law; Governing and Advisory Boards; Negotiation; Crisis Management; Policy; Insolvency and Bankruptcy; Credit; Financial Crisis; United States;


George, Bill, Jim Sharpe, and Andrew N. McLean. "A Strategic Perspective on Bankruptcy." Harvard Business School Background Note 407-035, November 2006. (Revised August 2012.)