In July 2010, William Ackman, founder of Pershing Square, reviewing potential new opportunities: the acquisition of troubled Stuyvesant Town and Peter Cooper Village («ST / PCV») complex. The hotel has recently had to abandon their owners and came under the control of CW Capital, a special service for the vast number of debts that were by default. Any investment in distressed property can be very risky and can require the company to seek protection in bankruptcy court. While the bankruptcy process was not new to Ackman, it can add significant complexity and unknown results. Ackman should consider whether this is a good investment, given the mixed assessment and considerable public scrutiny of any investment transaction. "Hide
by Arthur I Segel, Gregory S. Feldman, James T. Liu, Elizabeth C. Williamson Source: HBS 22 pages. Publication Date: May 25, 2011. Prod. #: 211106-PDF-ENG
Related Case Solutions & Analyses:
Parent Company P and 80 Percent Owned Subsidiary Company S
Gazelle in 2012
AQRs Momentum Funds (A)
International Lobbying and The Dow Chemical Company (B): Regulatory Reform in the USA
Lisa Sherman (B)
Knoll Furniture: Going Public
Catanese and Vulcan (B)
International Business Machines Corp. (A)
Carbon Credit Markets
“Crazy is a Compliment: The Power of Zigging When Everyone Else Zags”
