Product details

Intended to advance understanding of corporate responsibility in the context of a bankruptcy decision. The case documents the implementation of a turnaround plan for financially ailing Braniff International. This includes a new marketing and operations strategy, concessions from labor, changes in management, and a financial restructuring. The narrative describes the worsening financial condition of the company and the choices made by the CEO and CFO to raise cash and avoid filing. These choices and events led to progressively limited options. It was decided that attempting to reorganize under Chapter XI of the Bankruptcy Reform Act was preferable to being placed into involuntary bankruptcy under Chapter VII. This required keeping preparations secret and eventually filing by surprise.