Publications
Publications
- December 2004 (Revised July 2008)
- HBS Case Collection
Delaware Worldwide Corporation
By: Ronald W. Moore
Abstract
Discusses the bankruptcy reorganization process, with an emphasis on valuation and capital structure. Serves as the basis for a bankruptcy reorganization game that has been used for many years in Creating Value Through Corporate Restructuring, a second-year finance course. The game is played in Chapter 11, after previous efforts to complete an out-of-court restructuring failed. Students are divided into five claimholder groups--secured debt holders, unsecured senior debt holders, etc.--and these groups, under the supervision of a bankruptcy judge, must negotiate a satisfactory plan of reorganization or suffer significant incremental losses through liquidation. Provides the background information with respect to Delaware's history, prospects, and financial condition necessary to play the game. A rewritten version of an earlier case.
Keywords
Citation
Moore, Ronald W. "Delaware Worldwide Corporation." Harvard Business School Case 205-047, December 2004. (Revised July 2008.)