Turning the expert should determine whether a firm in distress is worth more in the foreseeable future than its liquidation value. If so, the finance company should be restructured in such a way, according to the market power of the holders of various securities. Restructuring requires a delay in the payment of principal, rate concessions and debt-equity swap. "Hide
by Thomas R. Piper, Ronald Moore Source: Harvard Business School 14 pages. Publication Date: September 11, 1998. Prod. #: 299014-PDF-ENG
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