Subject category:
Finance, Accounting and Control
Published by:
Ivey Publishing
Version: 2004-01-16
Length: 18 pages
Data source: Field research
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Abstract
One of Cadillac Fairview Inc''s (Cadillac) key creditors, the Whitehall Street Real Estate Limited Partnership managed by Goldman Sachs & Co, forced Cadillac to seek protection from its creditors under Canadian insolvency law on December 23, 1994. Accordingly, Cadillac was now required to submit to the Ontario General Court a plan to restructure its financial obligations by January 31, 1995, a plan that it hoped would have the support of its various stakeholder groups. Cadillac had grown to become one of the largest developers and owners of prime commercial real estate in North America, with assets of $4.8 billion. (A Microsoft Excel spreadsheet is available for use with this case, product 7A96B013.)
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Abstract
One of Cadillac Fairview Inc''s (Cadillac) key creditors, the Whitehall Street Real Estate Limited Partnership managed by Goldman Sachs & Co, forced Cadillac to seek protection from its creditors under Canadian insolvency law on December 23, 1994. Accordingly, Cadillac was now required to submit to the Ontario General Court a plan to restructure its financial obligations by January 31, 1995, a plan that it hoped would have the support of its various stakeholder groups. Cadillac had grown to become one of the largest developers and owners of prime commercial real estate in North America, with assets of $4.8 billion. (A Microsoft Excel spreadsheet is available for use with this case, product 7A96B013.)
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Size:
Large