Subject category:
Strategy and General Management
Published by:
London Business School
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https://casecent.re/p/22511
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Abstract
In early 1993, following a failed flotation, GPA Group plc, the world''s largest aircraft leasing company, is in negotiations with its creditors. Patrick Blaney, a GPA manager unhappy with senior management''s approach to the re-structuring process, is suddenly propelled into the hot seat with an offer to take charge of the entire re-structuring process. At about the same time, Dennis Stevenson, a well known City figure, has been approached to take over as chairman of the ailing company. Should either of these individuals accept these weighty roles and, if so, on what terms? What, if anything, can be done to save the company? What was the possibility of finding a solution which would be acceptable to the company''s creditors?
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Abstract
In early 1993, following a failed flotation, GPA Group plc, the world''s largest aircraft leasing company, is in negotiations with its creditors. Patrick Blaney, a GPA manager unhappy with senior management''s approach to the re-structuring process, is suddenly propelled into the hot seat with an offer to take charge of the entire re-structuring process. At about the same time, Dennis Stevenson, a well known City figure, has been approached to take over as chairman of the ailing company. Should either of these individuals accept these weighty roles and, if so, on what terms? What, if anything, can be done to save the company? What was the possibility of finding a solution which would be acceptable to the company''s creditors?