Bankruptcy and Restructuring at Marvel Entertainment Group Harvard Case Solution & Analysis

Marvel Entertainment Group is the leading publisher of comic books in the United States, with superheroes like Spider-Man, The Incredible Hulk, X-Men, and Captain America. It is also one of the leading sports and entertainment trading cards by Fleer Sky Box and brand names. In the mid-1990s, he experienced a sharp decline in both companies, making its bankruptcy in December 1996. This case is set to end in January 1997, shortly after, Marvel unveiled its reorganization plan in the bankruptcy court, and about a month before the creditors will vote on the plan at the confirmation hearing. Two of the most famous raiders of the 1980s against each other for control of the company. On the one hand, Ronald Perelman, who controls Marvel through his MacAndrews & Forbes holding company. On the other hand Carl Icahn, who controls 25% of the public debt Marvel. Icahn and other bondholders have to decide whether to accept the plan Perelman, to abandon it in favor of the plan, or to sell their bonds before the confirmation hearing. Perelman has to decide whether to modify the plan in response to the threat of debtholders "or wait and see what happens at the hearing. Rewritten version of the other case." Hide
by Benjamin C. Esty, Jason S. Auerbach Source: Harvard Business School 19 pages. Publication Date: September 16, 1997. Prod. #: 298059-PDF-ENG

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