Corporate debt restructuring and agency problems
ONGPIPATTANAKUL, VISIT
Corporate debt restructuring and agency problems The case of Thai Petrochemical Industry - 2013 - 121-140
The case emphasizes the scope of the restructuring strategy used to revitalize a debtridden formerly Thai Patrochemical Industy Public Limited Company. TPI entered an aggressive expansion programme to establish a fully integrated petrochemical complex and become the largest petrochemical plant in Thailand. The company became well known as Thailand's largest debt restucturing case after it declared a moratorium on its debt obligations in August 1997. The case study illustrates how onerousagency cost can result in great losses in tems of shareholders' wealth, the impact on the control and value and the opportunity losses of growth.
MANAGEMENT CASES
658
Corporate debt restructuring and agency problems The case of Thai Petrochemical Industry - 2013 - 121-140
The case emphasizes the scope of the restructuring strategy used to revitalize a debtridden formerly Thai Patrochemical Industy Public Limited Company. TPI entered an aggressive expansion programme to establish a fully integrated petrochemical complex and become the largest petrochemical plant in Thailand. The company became well known as Thailand's largest debt restucturing case after it declared a moratorium on its debt obligations in August 1997. The case study illustrates how onerousagency cost can result in great losses in tems of shareholders' wealth, the impact on the control and value and the opportunity losses of growth.
MANAGEMENT CASES
658