Corporate debt restructuring and agency problems The case of Thai Petrochemical Industry

By:

ONGPIPATTANAKUL, VISIT

Contributor(s):

PANDEY, I M

Material type:

Mixed materialsPublication details: 2013Description: 121-140Subject(s):

MANAGEMENT CASES

NLM classification:

In: VIKALPAMSummary: 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.

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Holdings
Item type	Current library	Call number	Vol info	Status	Date due	Barcode
Periodicals/Magazines	SSCBS Library		38/2	Available		P14938

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.

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