1. A BUSINESS TRIBUNAL FOR CORPORATE REORGANIZATIONS.
- Author
-
Phillips, Philip G.
- Subjects
CORPORATE reorganizations ,AMERICAN business enterprises ,BONDHOLDERS ,HOTEL management ,ORGANIZATIONAL structure ,CORPORATE bonds ,CORPORATE finance ,INDUSTRIAL relations research ,TRUSTS & trustees ,CORPORATE governance ,MANAGEMENT committees ,INDUSTRIAL management - Abstract
The article looks at the problem of corporate reorganization from the standpoint of the bondholder. The author explains the role of bondholders in an organization and how any lack of representation from trustees will present problems.The reorganization of the Hotel Pierre Company is used as an example of a typical reorganization, and the author shows why bondholders need representation in this type of reorganization. Typically the representation is in the form of committees which act as agents on the behalf of the bondholders. However, committee work is costly, obscure, and blocked by selfishness and unfairness. The author outlines a solution to the problems presented in reorganization.
- Published
- 1933