Kelly Solar

Darden Business Publishing Cases

ISSN: 2474-7890

Publication date: 20 January 2017


A small start-up company must make additional investments to maximize its firm value. But the company owner will not make this investment unless she can renegotiate outstanding debt claims. Solving this “debt overhang” problem through negotiation is the focus of the case. In this context, students are exposed to a variety of issues: the nature of financial claims, bargaining and negotiation fundamentals, and agency costs of debt.



Bodily, S., Lipson, M. and Lichtendahl, K. (2017), "Kelly Solar", Darden Business Publishing Cases.

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