Background Note | HBS Case Collection | 2012 (Revised from original 2006 version)

A Strategic Perspective on Bankruptcy

by Bill George, Jim Sharpe and Andrew N. McLean

Abstract

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; Perspective; Insolvency and Bankruptcy; Law; United States;

Citation:

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