Academic literature on the topic 'Corporate reorganizations – cases'
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Journal articles on the topic "Corporate reorganizations – cases"
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Yuan, Binqing. "Analysis of Post-Bankruptcy Effects and Reorganization: The Case of Founder Group." Highlights in Business, Economics and Management 27 (March 21, 2024): 367–72. http://dx.doi.org/10.54097/1f96gz47.
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The Founder Group, initially known as Yan Zhong Industrial, was one of the first batch of joint-stock companies listed in China. Contemporarily, due to various factors, it has suffered continuous losses and a significant drop in stock price. On June 2, 2022, creditors applied for reorganization at the Beijing No. 1 Intermediate People's Court, citing bankruptcy reasons but potential for restructuring. By December 26, 2022, the court confirmed the completion of the restructuring plan and ended the process. This study focuses on the bankruptcy and reorganization of Founder Group, a significant case in corporate restructuring. It delves into the methods and outcomes of this process, contributing to the ongoing research on corporate survival and adaptation strategies in the face of financial distress. The study employs empirical research methods, analyzing financial, business, and market performance data. It also explores legal and practical aspects of restructuring, distinguishing between survival, sale, and liquidation reorganizations. Results indicate that companies changing their main business post-restructuring fare better economically than those that don't. Founder Group’s restructuring involved a multi-faceted approach, including debt-to-equity swaps, cash settlements, and debt retention, offering insights into effective corporate restructuring strategies. These results shed light on the effectiveness of various restructuring strategies in large-scale corporate bankruptcies. It provides a valuable reference for similar cases, especially in the current economic climate marked by increased uncertainties and risks of large corporate failures.
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Kerr, A., and I. Rogers. "Repackaging the Life Office." Journal of the Staple Inn Actuarial Society 32 (March 1990): 117–44. http://dx.doi.org/10.1017/s2049929900010436.
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Traditionally the interest of actuaries and many other life assurance specialists in the ‘corporate structure’ of life offices has largely been limited to questions surrounding the distinctions between mutual and proprietary companies. More recently, attention has also been paid to composite insurance companies—principally to protect the interests of the long term business policyholders.Developments over the past ten years or so have led many life offices to reappraise their corporate structure. A number of companies have decided to set up a (non-insurance) group holding company, the principal subsidiary of which would be the established life assurance company. This paper will consider some of the pressures which have resulted in these reorganizations, in particular:(a) the impact of Section 16 of the Insurance Companies Act 1982 which restricts insurance companies to only conducting activities in connection with insurance;(b) the various provisions in the Insurance Companies Regulations 1981 which limit the admissibility of particular assets and specify minimum accounting standards which must be adopted when writing down certain fixed assets;(c) the additional flexibility with regard to marketing and the financing of marketing costs which a revised structure will allow;(d) the purchase of companies for sums substantially in excess of their net asset value which may give rise to difficulties in accounting for the ‘goodwill element’ in the purchase price;(e) the potential tax advantages (and, in some cases, disadvantages) which may result from the creation of a non-insurance holding company.
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Yun, Eunkyoung. "Appraisal right of dissenting shareholders: Analysis of the Supreme Court Decision 2016Ma5394, 5395(byeonghap), 5396(byeonghap) delivered on April 14, 2022." Institute of Legal Myongji University 21, no. 2 (January 31, 2023): 89–106. http://dx.doi.org/10.53066/mlr.2023.21.2.89.
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Under the Korean Commercial Code(the “KCC”), the Financial Investment Services and Capital Market(the “FSC”) and the Enforcement decree of the FSC(the “ED”) provides that (i) where a shareholder, dissenting from a resolution regarding corporate reorganizations such as mergers and acquisitions under the KCC, has notified the company of his/her dissent to such resolution in writing before a shareholders meeting, he/she may request the company to purchase his/her shares in writing, specifying the classes and number of such shares, within 20 days from the date of the resolution at such shareholders meeting, (ii) where the company receives a request, the relevant company shall purchase the shares in the period during which a request for purchase can be made under the KCC, FSC and the ED, (iii) the purchase price of shares shall be determined through consultation between the shareholder and the company, (iv) where the consultation fails to produce an agreement within specified period during which a request for purchase can be made, the company or the shareholder who has requested the purchase of shares may request the court to determine the purchase price and (v) where the court decide on the purchase price of shares, it shall compute it by a fair value in view of the status of assets of the company and other situations.
Evaluating the price of the shares has been disputed due to the silence of the KCC etc regarding the specific meaning and method of calculating of such shares, and also the court decides it not according to the civil procedure process under the Korean Civil Procedure Act, but according to the procedure process under the Korean Non-Contentious Case Procedure Act and therefore the court decision standard of this issue is ambiguous. In evaluating the the price of the shares, courts deem a standard market price of the company as the fair value of the shares because courts believed that the standard market price of the shares has been decided on the stock market and market price deems reasonably among related parties. However, in the exception case of that severe distortion of the price arisen from intentional engagements by controlling shareholders in stock pricing is detected, court may conduct a judicial discretion granted to, and therefore, shall ex officio find facts and examine evidence as it deems necessary, in a sense of protecting minority shareholders from majority rules. The court decision rendered by the Supreme Court on April 14, 2022{2016Ma5394, 5395(byeonghap), 5396(byeonghap)} agreed to such court application. In the above case where dissenting shareholders experienced value discount arisen from severe distortion of stock pricing, court fixed and remedied such discount in evaluating the stock price. Given the institutional function of the appraisal rights of dissenting shareholders, court’s conclusion drew the result of protecting minority shareholders adequately and it seems to be adequate. And then, although it is unclear whether courts would hold, in cases where whether the increased effect from accomplishment of corporate reorganization such as mergers and acquisitions, that is, a synergy effect, should be considered in evaluating fair value of dissenting shareholders. Considering the above court rulings, the related decisions in the near future need to be carefully examined.
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Skeel, David Arthur. "The Nature and Effect of Corporate Voting in Chapter 11 Reorganization Cases." Virginia Law Review 78, no. 2 (March 1992): 461. http://dx.doi.org/10.2307/1073367.
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Kawamoto, Shinya, and Takashi Saito. "Divestment management buy-outs in Japan: performance, governance, and business strategies of seller firms." Corporate Ownership and Control 7, no. 2 (2009): 244–59. http://dx.doi.org/10.22495/cocv7i2c2p1.
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This study has examined cases of management buyouts (MBOs), which have been increasing rapidly in number since around 2000. First, an overview of MBO practices is provided, indicating the beginning of an increase in divestment-type MBOs as a new means to implement corporate restructuring. Subsequently, the factors used by Japanese companies to decide on whether to pursue divestment MBO were analyzed while particularly addressing the parent companies––the sellers of the business units. Results suggest the following factors leading to the parent company divestment of subsidiaries and business units through MBOs: 1) poor performance of the business of the parent company, 2) high debt-to-asset ratio (debt reliance) of the parent company, 3) wide diversification of parent company operations, and 4) active reorganization of the parent company’s corporate group. The structure of corporate governance also affects MBO trends, indicating that 5) companies for which shareholding ratios of institutional investors and directors are high are more likely to implement a divestment MBO. Conversely, 6) companies that are protected by cross-shareholdings are less likely to implement corporate restructuring.
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WANG, Xiao. "Theoretical discussion and standard reconstruction of substantive consolidation in bankruptcy reorganization." Wonkwang University Legal Research Institute 38, no. 2 (June 30, 2022): 187–215. http://dx.doi.org/10.22397/wlri.2022.38.2.187.
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To achieve Pareto optimality and substantive fairness, the practice of substantive consolidation in bankruptcy reorganization in China is needed. However, after analyzing the legal documents and judicial cases in the past three years, it can be seen that there are problems in the application, such as cognitive dislocation and theoretical conflicts. Moreover, there are deficiencies in the standard for judging whether the proceeding is applicable or not, such as vague meaning and unclear relationship, and there is a relative lack of systematic thinking. Therefore, on the one hand, a clear conceptual distinction should be made between the substantive consolidation from the perspective of bankruptcy law and the corporate merger in the field of company law. Besides, the contradictions between substantive consolidation and the traditional theoretical principles like bankruptcy petition doctrine, creditor’s reliance interests, and corporate personality independence should be resolved through methods which contain interest measurement and perspective shifting. On the other hand, it is necessary to construct a standard system with objective mode and subjective mode for determining whether the proceeding should be applied, so as to respond to different judicial needs. Furthermore, the objective mode should be detailed and strict, and it can be refined into three parts: formal requirement, necessity requirement and feasibility requirement. The subjective mode is based on the unanimous and real volition of the relevant stakeholders, which fully respects the freedom of the parties to dispose of their rights.
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ZASTROZHNІKOVA, Iryna. "ISSUES OF INTERCONNECTION AND AGREEMENT OF PERSONNEL MANAGEMENT STRATEGY AND GENERAL ENTERPRISE STRATEGY." Ukrainian Journal of Applied Economics 5, no. 3 (September 7, 2020): 329–35. http://dx.doi.org/10.36887/2415-8453-2020-3-36.
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Introduction. The issue of increasing the efficiency of production and economic activity and stabilizing the economic development of agricultural producers is relevant throughout the period of scientific research in the agricultural economy. Personnel as a strategic resource of the enterprise is the key to competitiveness, economic growth and production efficiency of economic entities. The efficiency of production and economic activity of agricultural enterprises depends on the state of personnel and human resources directly, and its development should be systematic and comprehensive, which is ensured by the use of tools for strategic management. The purpose of the article is to develop the theoretical and methodological foundations of the relationship and coordination of personnel management strategy and the overall strategy of the enterprise. Results. The basic concepts of strategy formation at a certain organizational level are offered. It is established that the strategy of personnel development is influenced by the current strategies of the production organization and management development of its personnel. The assignment of the personnel management strategy to the number of functional strategies, and the personnel development strategy to the operational strategies are substantiated. It is determined that in exceptional cases, which should include periods of the organization creation, its large-scale reorganization or qualitative and quantitative changes in the contingent of employees, in our opinion, the strategy of personnel development becomes a category of functional strategies. The strategy of personnel management becomes one of the business strategies, reflecting the specific situation in the organization, identifying possible ways of the most effective solution. The relationship between the corporate strategy, types of personnel management strategy and types of personnel development strategy of the production organization is presented. Key words: personnel, enterprise strategy, management strategy, development strategy, personnel management, personnel potential development strategy.
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Hernández González-Barreda, P. A. "Holding Companies and Leveraged Buy-Outs in the European Union Following BEPS: Beneficial Ownership, Abuse of Law and the Single Taxation Principle (Danish ECJ Cases C-115/16, 116/16, 117/16, 118/16, 119/16 and 299/16)." European Taxation 59, no. 9 (August 13, 2019). http://dx.doi.org/10.59403/3jrxs8t.
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In this article, the author discusses the highly anticipated ECJ Danish beneficial ownership cases, which address treaty and directive shopping scenarios within the area of corporate finance and corporate reorganization. The broad interpretation of beneficial ownership and abuse of EU Law in the EU Interest and Royalties (2003/49) and Parent-Subsidiary (2011/96) Directives given by the Court may lead to significant uncertainty, as well as inconsistencies that will need further clarification.
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Adler, Barry E., and Vedran Capkun. "Secured credit and bankruptcy resolution." Journal of Empirical Legal Studies, November 8, 2023. http://dx.doi.org/10.1111/jels.12370.
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AbstractAccepted wisdom holds that secured creditors favor liquidation of a debtor in bankruptcy even where the debtor may be more valuable as a going concern. This is false wisdom, however. Holders of senior claims can be expected to favor liquidation prior to a debtor's bankruptcy because the return on such claims are capped by the amount owed while debtor asset values fluctuate. But bankruptcy is a day of reckoning that can eliminate a creditor's exposure to value fluctuation. For this reason, we expect that modern bankruptcy practice, with the secured creditor often firmly in control, does not unduly encourage liquidation. In fact, we expect any bias to favor reorganization, which can be manipulated for the benefit of any party in control of the bankruptcy process. Our results are consistent with this hypothesis. In a broad study of US corporate bankruptcy cases, we find that secured credit is positively and significantly correlated with the reorganization of insolvent debtors.
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Jacoby, Melissa B. "Fast, Cheap, and Creditor-Controlled: Is Corporate Reorganization Failing? (Reviewing Lynn M. LoPucki, 'Courting Failure: How Competition for Big Cases is Corrupting the Bankruptcy Courts' (U. Mich. Press 2005))." SSRN Electronic Journal, 2005. http://dx.doi.org/10.2139/ssrn.782486.
Full textDissertations / Theses on the topic "Corporate reorganizations – cases"
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黎蓀龐 and Suen-pong Ricky Lai. "Reorganization from country management to business unit: a case study: Lai Suen Pong, Ricky." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31268912.
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Lai, Suen-pong Ricky. "Reorganization from country management to business unit : a case study /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19874406.
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Martinolich, Mary Zukor. "Case study of the impact of corporate restructuring on the nurses at Holmes Regional Medical Center." Honors in the Major Thesis, University of Central Florida, 2000. http://digital.library.ucf.edu/cdm/ref/collection/ETH/id/201.
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This item is only available in print in the UCF Libraries. If this is your Honors Thesis, you can help us make it available online for use by researchers around the world by following the instructions on the distribution consent form at http://library.ucf.edu/Systems/DigitalInitiatives/DigitalCollections/InternetDistributionConsentAgreementForm.pdf You may also contact the project coordinator, Kerri Bottorff, at kerri.bottorff@ucf.edu for more information.Bachelors
Business Administration
Management
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Simelane, Bonisiwe P. "The impact of restructuring on organisations : a case study on Swaziland Post and Telecommunication Corporation." Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/14634.
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Thesis (MBA)--Stellenbosch University, 2008.This paper is focused on corporate restructuring, particularly organisational restructuring, with emphasis on Swaziland Post & Telecommunications Corporation, during the period from 2001 to 2006. Its main concern is the implication of such restructuring especially on the employees and how this change impacted on the set goals of the corporation. It is clearly stated that this restructuring was viewed differently by all employees concerned and interviewed, as issues of discontent and mistrust on the previous leadership were sighted. There was a clear indication therefore that, issues of lack of communication from previous management, to all employees played a major role in encouraging low staff morale. There was also significant evidence that much of the restructuring took place mainly to increase the corporate financial performance. However this perpetuated a more disgruntled workforce, which was strained, stressed and in constant limbo of whether the company would continue as a going concern. Issues of job security also were a resultant of the disgruntled and stressed workforce. The researcher then discussed what happened at Swaziland Post & Telecommunication, with reference to past research studies of similar or related nature. Leadership and change management are thoroughly discussed, in order to give light to what the role of leadership and change management strategies play when an organisation undergoes restructuring.
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Vera, Pérez Andrea. "Implications of the Transfer of Workers in Cases of Corporate Reorganization." Derecho & Sociedad, 2017. http://repositorio.pucp.edu.pe/index/handle/123456789/118662.
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The present article addresses the labor obligations Companies face while in the process of reorganization. In addition, it deals with the fundamental labor provisions related to the continuity principle under a conceptual and normative point of view, as a result of the transfer of employees. Finally, it explains the essential content of the agreements with relation to the transfer of personnel, as hereby previously explained.En el presente artículo se desarrollan las obligaciones laborales que surgen para las empresas que atraviesan procesos de reorganización. Adicionalmente, se precisan las principales disposiciones laborales relacionadas con el principio de continuidad, desde el punto de vista conceptual y normativo, producto del traspaso de trabajadores. Finalmente, se explica el contenido esencial de los convenios de transferencia de personal, en función a lo expuesto en forma precedente.
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Oreng, Mariana Aparecida Calabrez. "Bank responses to corporate reorganization: evidence from Brazil." reponame:Repositório Institucional do FGV, 2017. http://hdl.handle.net/10438/18057.
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This study analyzes how bank creditors vote on corporate reorganization filings. Brazil offers an excellent scenario for bankruptcy research: on the 10th anniversary of the Brazilian Bankruptcy Code, the number of reorganization filings skyrocketed, increasing from 110 in 2005 to 1863 in 2016. Our work is both theoretical and empirical; we suggest a cooperative game setting to explain creditor behavior, and we apply pooled cross-sectional data from 125 reorganization filings in Brazil from 2006 to 2016. We find evidence that the haircut proposed by debtors is the main factor driving bank creditors’ decisions, rather than firm size or age, as the traditional literature proposes. In accordance with our theoretical model, the proportion of senior debt is not relevant in explaining bank responses to reorganizations. By employing a unique dataset, we contribute to the bankruptcy literature by showing that the unified creditors’ framework does not apply. By looking at bank conflict at the interest level, we verify that the approval rate for reorganization filings decreases sharply, which indicates that coordination failures result from negotiation problems and often lead to liquidation. Due to legal and process similarities with countries such as the United States and Canada, the study also offers important insights regarding bankruptcy cases in general.
Este estudo explora como bancos credores votam em processos de recuperação judicial. O Brasil oferece um excelente cenário para este tipo de pesquisa: no décimo aniversário da Lei de Falências, o número de pedidos de reorganização aumentou de 110 em 2005 para 1863 em 2016. Este trabalho é teórico e empírico: Sugerimos um cenário de jogo cooperativo para explicar o comportamento dos credores e utilizamos dados agrupados de corte transversal de 125 registros de recuperação no Brasil de 2006 a 2016. Encontramos evidências de que a margem de redução proposta pelos devedores é o principal fator que pesa na decisão dos credores bancários, ao invés do tamanho da empresa ou seu tempo de mercado, como sugere a literatura tradicional em falências. De acordo com o modelo teórico proposto, demonstra-se que a proporção da dívida sênior não é relevante para explicar as respostas dos bancos credores às recuperações. Ao empregar um conjunto de dados exclusivo, este estudo contribui para a literatura de falências mostrando que a ideia de credores unificados não se aplica. Ao analisar o conflito entre bancos credores no nível da empresa, verifica-se que a taxa de aprovação de pedidos de recuperação diminui acentuadamente em casos de conflito, o que indica que as falhas de coordenação resultam de problemas de negociação e muitas vezes levam à liquidação. Devido a semelhanças legais e processuais a países como os Estados Unidos e Canadá, o estudo também oferece novas percepções sobre casos de falência em geral.
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Teichert, Broer. "Organisational self-renewal : process design." Thesis, University of St Andrews, 2004. http://hdl.handle.net/10023/14064.
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Firms compete based on their relative ability to renew as much as they do on their ability to extract profits from product-markets. Drawing from literature and case studies the research explores how renewal is affected in organisations. The main dynamics of the renewal process, and the issues and skills involved in its management, therefore, receive detailed treatment. Relevant data is gathered from a variety of primary and secondary sources. The research begins with an effort to understand the forces that trigger and processes that act to sustain decline in organisations. These findings are contrasted with a number of case studies that serve the identification of underlying characteristics and dynamics common to successful organizations. This comparison serves to uncover principles of successful organisation and that hold the key to renewal and sustained growth. The main objective of this research is to increase the understanding and awareness of the processes, problems and successful means of organisational renewal. Underlying is the concern to develop more formalised models and translate these findings into a useful conceptual framework as a basis and stimulus for further research and as a helpful guideline for management practitioners to handle successfully the problems of entropy and organisational ossification of their business.
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Colgan, Fiona. "The regional impact of restructuring in the Canadian manufacturing sector 1960-1982 : the case of the Québec textile and clothing industries." Thesis, McGill University, 1985. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=63305.
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Chen, Chiang-ming, and 陳強明. "A Case Study of Corporate Reorganization." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/95426993137030170781.
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碩士國立成功大學
高階管理碩士在職專班
96
This study selects a case to closely examine the issues of corporate re-organization. The idea of corporate re-organization comes from stopping payment of debta, including interest and principal; thus, the company filing for re-organization has a chance to survive. If the bankruptcy firm survives, the creditors could be better off. Perhaps, a firm may face environmental change or some other reasons, it cannot pay for due debt occasionally. The corporate re-organization law provides legal framework for the firm to re-organize; however, from practical view and results, many bankruptcy frims use and abuse the re-organization laws and regulations as a strategic instrument to negotiate with creditors unlike situations in USA. This study selects a practical case and examines issues regarding corporate re-organization laws and regulation. The research results of this study provide many constructive suggestions to bankruptcy firms and related laws.
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Chen, Li-Chuang, and 陳麗娟. "A Case Study of Corporate Reorganization- Chuntex Electronic Ltd." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/24151258818553111143.
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碩士中華大學
企業管理學系碩士班
98
The purpose of Corporate Reorganization in Taiwan is to give the corporation a second chance to rebuild the company. The main targets are those companies who issue of shares or issue corporate bonds in public. Suffering the financial difficulties, these companies may suspend their business or shut down the whole companies. However, some companies have the chance to reorganization and profits again. They deserve the chance to issue the bankruptcy protection. If through sanction, the court then selects and appoints to regroup a reorganizer. But some responsible persons of the companies misuse the protection and try to be disengaged from their duties dur-ing reorganization. Some even use the protection against the company debtor. The misuses of the protection ruins the reorganization system. Till now, it is so rare that companies make the successful reorganization in Tai-wan. This research focus on the successful cases of corporate reorganization and tries to find out more critical success factors, which are valuable reference for other com-panies in crisis. Except for case study, there are also some practical opinions for this subject in this dissertation to make the system more feasible and might offer some data for those who are also interested in same topic.
Books on the topic "Corporate reorganizations – cases"
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Gerber, Michael A. Business reorganizations. 2nd ed. New York: LEXIS Pub., 2000.
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Gerber, Michael A. Business reorganizations. New Providence, NJ: LexisNexis, 2013.
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Gerber, Michael A. Business reorganizations. New York, N.Y. (235 E. 45th St., New York 10017): M. Bender, 1986.
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Triantis, George G. Corporate reorganization and bankruptcy. [Toronto]: Faculty of Law, University of Toronto, 2001.
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Triantis, George G. Corporate reorganization of distressed companies. [Toronto]: Faculty of Law, University of Toronto, 2003.
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Conference on Large Chapter 11 Cases (2003 Washington, D.C.). Conference on Large Chapter 11 Cases. Washington, D.C: Federal Judicial Center, 2004.
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S, Scarberry Mark, ed. Business reorganization in bankruptcy: Cases and materials. St. Paul, Minn: West Pub. Co., 1996.
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1945-, Itō Makoto, Momoo Shigeaki 1940-, Nishioka Seiichirō 1949-, and Japan, eds. Atarashii Kaisha kōseihō: Moderu jirei kara manabu unʾyōjō no ronten = The new law of corporate reorganization : a practical guide with hypothetical cases. 8th ed. Tōkyō: Yūhikaku, 2004.
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Portugal. Código da insolvência e da recuperação de empresas: Texto da lei, notas remissivas, jurisprudência : DL no. 53/2004, de 18 de Março com as alteraçoes dos DLa nos. 200/2004, de 18 de Agosto; 76-A/2006, de 29 de Março; 282/2007, de 07 de agosto; 116/2008, de 04 de julho e 185/2009, de 12 de agosto. Coimbra: Almedina, 2010.
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Chandratre, K. R. Bharat's corporate restructuring: Law, practice & procedures relating to compromises ... including cases, materials, forms & precedents. 2nd ed. New Delhi: Bharat Law House, 2010.
Find full textBook chapters on the topic "Corporate reorganizations – cases"
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Schillig, Michael. "Corporate Rescue and Reorganization." In Resolution and Insolvency of Banks and Financial Institutions. Oxford University Press, 2016. http://dx.doi.org/10.1093/oso/9780198703587.003.0018.
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The jurisdictions under consideration provide a range of options for effectuating corporate rescue or reorganization. Some of these procedures are long-standing and applicable across the board; others are new and financial institution-specific. In England and Wales, administration has been used successfully to restructure financial institutions in the past; the bank administration procedure is new and largely untested, whereas the investment bank special administration regime (SAR) has already been applied in several cases. Germany’s brand-new pre-insolvency procedures apply to credit institutions only, but do not look very promising when it comes to the restructuring of large, systemically important financial institutions. Chapter 11 of the US Bankruptcy Code is regarded as very effective. It was put to the test when Lehman Brothers filed for bankruptcy in the autumn of 2008. Many commentators believe that it has coped well. However, there is always room for improvement and an exciting reform debate is underway.
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Paterson, Sarah. "Looking to the Future." In Corporate Reorganization Law and Forces of Change, 215–50. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198860365.003.0009.
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It is an organizing principle of the book that modern corporate reorganization law responds to different patterns of fact in diverse and complex ways, and this chapter explores other types of corporate reorganization case beyond financial restructuring. It argues that the analysis of these types of case may depend more fundamentally on the lens through which they are viewed. Furthermore, it suggests that there are reasons to suspect that there may be an increase in some of these other types of case over the next decade. This provides the framework in which to investigate the claim in the book that English scholars, practitioners, judges, and the legislature may face challenges in connecting concepts which are well adapted to a reorganization of loan, bond, and equity finance arrangements to new adaptations of corporate reorganization law.
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Paterson, Sarah. "Initial Conditions and Emergence of Corporate Reorganization in the United States and England." In Corporate Reorganization Law and Forces of Change, 21–46. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198860365.003.0002.
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This chapter is a scene-setting exercise, offering a brief and highly selective review of almost one hundred years of corporate reorganization in the US and England. It seeks to provide some explanation for the very different ways in which corporate reorganization developed in each jurisdiction. Overall, its purpose is to help to sketch out the conditions which prevailed when the account in the book really begins in the 1970s, and how they offer significant explanatory power for the way in which corporate reorganization law and practice emerges in each jurisdiction. Specifically, the chapter investigates the relatively stable corporate reorganization law and practice which prevailed in each jurisdiction for much of the twentieth century, and, in each case, the institutional logics, practices, and identities which gave rise to it.
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Eisenberg, Theodore, and Shoichi Tagashira*. "Should We Abolish Chapter 11? The Evidence from Japan." In Current Developments in International and Comparative Corporate Insolvency Law, 215–60. Oxford University PressOxford, 1994. http://dx.doi.org/10.1093/oso/9780198258964.003.0009.
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Abstract Optimizing reorganization proceedings for small and midsized businesses is an important issue in every industrial country. But little information exists about the actual operation of such proceedings. Recent American bankruptcy studies focus either on consumer bankruptcies or on large chapter 11 cases involving publicly listed firms. This paper presents the results of a comprehensive empirical study of Japan’s most frequently used business bankruptcy reorganization provision.
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Paterson, Sarah. "The Fall of the Lifetime Manager." In Corporate Reorganization Law and Forces of Change, 139–62. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198860365.003.0006.
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Chapter 6 explores the significance of shifts in the identities of debtor firms, and of the individuals who manage them, for the concept of debtor control rights in Chapter 11. The argument is made that these changes in identities suggest reasons to question the concept of allocation of control rights to the debtor as a means of incentivizing early filing. However, the argument is made that the concept of debtor control rights is important in a different way when the purpose of the case is to deleverage a complex, leveraged capital structure. When the chapter turns to examine England, it reveals that participants in this type of reorganization case have mobilized corporate reorganization law in ways which take account of the new demands of the debtor control concept, but without bringing on board inherited ideas associated with the concept from traditional US corporate reorganization practice.
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Paterson, Sarah. "The Approach in the Book and Implications for Reform." In Corporate Reorganization Law and Forces of Change, 251–78. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198860365.003.0010.
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First, Chapter 10 applies the approach developed in the book to the current reform debate in the US and England. It suggests that the US reform debate has persisted in measuring the extent to which new adaptations of Chapter 11 have moved it from the way in which it was originally conceived, rather than creating new conceptual frameworks for analysing new adaptations and the case for reform. The chapter shows how this can lead to policy missteps, and the reasons for using the approach developed in the book instead. Secondly, Chapter 10 explores the ways in which the US has sought to export the original policy goals of Chapter 11, and the effect which this has had on the way in which the English reform debate is framed. Once again, it shows how a bottom-up approach, rooted in the arguments in the book, provides a more effective frame for debating the case for reform.
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Ferran, Eilís, Elizabeth Howell, and Felix Steffek. "Maintenance and Reduction of Capital." In Principles of Corporate Finance Law, 199—C7N190. 3rd ed. Oxford University PressOxford, 2023. http://dx.doi.org/10.1093/oso/9780198854074.003.0007.
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Abstract This chapter examines the common law maintenance of capital principle and its continuing importance in preventing the wrongful extraction of value from a company through disguised distributions. Recent case law that clarifies directors’ duties with respect to creditors’ interests is considered. The chapter also considers the circumstances in which a company can reduce its capital either with the approval of the court or based on a directors’ solvency statement. Recent cases that have begun to interpret the solvency statement procedure are examined. Specific examples of reductions of capital in the context of group reorganization schemes of arrangement are provided. The chapter includes an examination of the case for the UK to move away from the traditional legal capital approach and towards the more modern liquidity/solvency-based approach that has found favour in some other countries.
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Şendur, Yeşim. "The Reasons for Financial Failure and Bankruptcy." In Bankruptcy and Reorganization in the Digital Business Era, 1–9. IGI Global, 2023. http://dx.doi.org/10.4018/978-1-6684-5181-6.ch001.
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In today's rapidly globalizing and digitalizing world, many factors may cause businesses to fail. Financial crises and corporate scandals experienced in the developed financial markets have resulted in the bankruptcies of many companies like Lehman Brothers, Enron, Parmalat, Wirecard, etc. Financial failure can be defined as the business's inability to meet its obligations to lenders. When financial failure is unmanageable, some companies may become bankrupt. The purpose of this study is to figure out the causes of business failure. The factors that may lead to business failure have been separately revealed in this context. Mismanagement is one of the main reasons for financial failure. A company can also fail if it cannot generate more returns than its fixed costs. In addition, the wrong merger and acquisition decision of a firm that has reached a certain maturity may be the reason for failure. Failure to comply with corporate governance principles, which aim to increase the efficiency of businesses, is also a probable reason for failure.
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Varga, Zsuzsanna, Etelka Katits, Éva Szalka, Ildikó Palányi, and Katinka Magyari. "The Relativity between Sustainable Management and Turnaround Management: Evidences and Suggestions for the Hungarian Agricultural Sector." In Társadalom – gazdaság – természet: szinergiák a fenntartható fejlődésben (Konferenciakötet), 484–503. Soproni Egyetem Kiadó, 2023. http://dx.doi.org/10.35511/978-963-334-450-7_s10_varga_et_al.
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The business practice of recent years could not do without the application of change and turnaround management, as well as the incorporation of sustainability principles into the management of companies. The goal is to examine the implementation of the EU directive, according to which companies can create long-term, sustainable values instead of short-term benefits. We are examining the possibilities and driving forces for making this a reality in the Hungarian agricultural sector. Our research questions: Why and how can corporate sustainable management, growth and value creation build on each other in practice? What are the necessary corporate quantitative and qualitative frameworks in today’s uncertain world? Why and how are corporate turnaround management and sustainability related? Does sustainable reorganization management technique exist in the Hungarian agricultural sector at all? Based on the results obtained from comparative financial and economic analysis of cases and benchmarks, we carry out sensitivity tests, which can even serve to replan the work of the decision-makers.
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Pawar, V. P., Bhagyashree Kunte, and Srinivas Tumuluri. "The Pains of Separation." In Indian Business Case Studies Volume II, 163–70. Oxford University PressOxford, 2022. http://dx.doi.org/10.1093/oso/9780192869388.003.0019.
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Abstract One of the more visible signs of organizational restructuring is that many firms have become flatter on the organizational chart. In search of efficiencies, some of them have removed entire layers of management to speed up communication and reduce headcount. So far so good. But what often ends up roiling the water is the prospect of employee redundancy (HP, which is headed for a split, may cut around 55,000 jobs globally), redeployments, and job separation as a company gets into the restructuring mode. A review of literature on spin-offs and demergers seems to suggest that a split in business can be organizationally disruptive as it can cause stress and broken bonds between employees who feel vulnerable and not in control of their careers. Given this, experts suggest corporate leaders must ask some fundamental questions before embarking on a demerger exercise: How can the company work to minimize the human impact of a demerger while remaining competitive? Indeed, how does the psychological contract between the worker and the employer change post a split? Above all, how can the workforce be motivated to perform better after the split? It must be understood that regardless of whether an organization conceptualizes and designates its spin-off as re-engineering or reorganization of business, the adoption and implementation of workforce reorientation strategies will inexorably produce considerable financial, organizational, and emotional effects. While some such outcomes can be anticipated and are tangible, others have unexpected, long-term consequences that are difficult to measure.
Conference papers on the topic "Corporate reorganizations – cases"
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Yasujima, Akira, and Yasunobu Ito. ""Entrepreneuring" of Mature Small- to Medium-sized Companies in Crisis Situation: A Case Study of a Legacy Bakery with 90 Years of History." In 15th International Conference on Applied Human Factors and Ergonomics (AHFE 2024). AHFE International, 2024. http://dx.doi.org/10.54941/ahfe1005105.
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This study aims to elucidate the processes inherent in entrepreneurial activities by exploring how small- to medium-sized mature companies strive to reorganize as they respond to various crises. Specifically, we examine business reorganization processes through a case study of a well-established company in Japan, re-conceptualizing entrepreneurship — commonly considered a static and ambiguous notion — as a dynamic process of “entrepreneuring”. Recently in Japan, anticipation for the “emergence of transcendent individuals“ who generate innovations has been growing. However, there is a paucity of interests in analyses centered on small- and medium-sized mature companies which often grapple with constraints and limitations unique to themselves. In recent years, scholarly discourse have expanded beyond associating entrepreneurship solely with new business ventures, and the significance of dynamically analyzing entrepreneuring as a process in a world where practices and mindsets are already organized (Steyaert 2007: 462) is pointed out in international journals. Additionally, inquiries into how newly organized cultures emerge in the process of organizational and institutional changes (Hjorth & Reay 2022: 159) have gained traction. The conceptual viewpoint of entrepreneuring is shifting from methodological individualism towards practicalism and relationism. Building on these premises, this paper presents a hypothesis about the nature of entrepreneuring by delineating a case of organizational restructuring in a company, viewed through the lens of long-term process changes. The subject of this study is a legacy bakery with which a private equity (corporate restructuring) fund, managed by one of the authors (AY), has been engaged since 2019. Before the fund’s engagement, the bakery’s financial constraints led to severely limited investments in facilities and to a shortage of middle-ranking and younger staff. Furthermore, the COVID-19 pandemic and the Ukrainian conflict significantly strained its operations. Under these circumstances, the bakery has been engaged in the process of entrepreneuring in order to diversify its customer base and revamp its business portfolio. We conducted a qualitative examination of the data, which included records from participant-observations spanning nearly five years, individual interviews with key stakeholders and reflection sheets gathered after workshops. Comparative analyses with other cases of corporate turnarounds orchestrated by the fund have also been undertaken. Initially, the company's failure to recognize the necessity for organizational change had impeded attempts at autonomous or internal reorganization. However, the “institutional changes” brought from outside, namely the change in shareholders and the onset of a financial deficit, catalyzed the generation of reorganization efforts. During the process, the “institutions”, or corporate cultures, based on the bakery's decades-old customs created barriers against change. Also, potential conflicts between multiple “institutional logics” historically embedded in the company emerged during the change process. Nevertheless, through ongoing efforts across the organization,the employees began to explore the common benefits that emerged from such conflicts. The results of this study illustrate the process of a gradual diversification of relationships among involved agents that catalyzed the reorganization process. Innovations within small- and medium-sized companies with limited managerial resources can be perceived as processes of reorganization sparked by intersection and amalgamation of various actors representing a constantly evolving performative action.
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Redlich, Tobias, Jens Wulfsberg, and Franz-Ludwig Bruhns. "Open Production: A Scientific Framework for Co-Creative Product Realization." In ASME 2010 International Mechanical Engineering Congress and Exposition. ASMEDC, 2010. http://dx.doi.org/10.1115/imece2010-37079.
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Globalization and the use of technology call for an adaptation of value creation strategies. As the potential for rationalization and achieving flexibility within companies is to the greatest possible extent exhausted, approaches to the corporate reorganization of value creation are becoming increasingly important. In this process, the spread and further development of information and communication technology often provide the basis for a reorganization of cross-company value nets and lead to a redistribution of roles and tasks between the actors involved in value creation. While cooperative, decentralized and self-organizing value creation processes are in fact being promoted, the associated potential for development and production engineering is being underestimated and hence not implemented sufficiently. This contribution will first describe the emerging transformation in value creation taxonomy and then, on the basis of a case study, develop an adequate framework for value creation configuration.