Case | HBS Case Collection | 2009 (Revised from original 2008 version)
by Stuart C. Gilson and Sarah Abbott
A major bankrupt retailer is poised to emerge from Chapter 11. Two activist hedge funds ("vulture investors") will own over 50% of reorganized Kmart's common stock, based on prior investments in Kmart's debt claims, and an infusion of new equity financing. The Chapter 11 process has generated both costs and benefits for the company. Its future profitability, and the value of the reorganized business, are both highly uncertain.
Keywords: Restructuring; Capital Structure; Insolvency and Bankruptcy; Investment; Investment Activism; Valuation; Financial Services Industry; Retail Industry; United States;
Citation:
Gilson, Stuart C., and Sarah Abbott. "Kmart and ESL Investments (A)." Harvard Business School Case 209-044, May 2009. (Revised from original August 2008 version.)
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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
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;
Article | Journal of Applied Corporate Finance | Fall 2012
Coming Through in a Crisis: How Chapter 11 and the Debt Restructuring Industry Are Helping to Revive the U.S. Economy
Stuart C. Gilson
Teaching Note | HBS Case Collection | 2012
General Growth Properties and Pershing Square Capital Management (TN)
Arthur I. Segel and Stuart C. Gilson