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Case study
Publication date: 14 July 2014

David Mathuva

– Strategic Management and Corporate Finance.

Abstract

Subject area

Strategic Management and Corporate Finance.

Study level/applicability

Higher undergraduate and graduate levels.

Case overview

The case demonstrates how a company can be able to manage corporate restructuring successfully and recover from receivership. Uchumi is a company incorporated in Kenya and listed on the Nairobi Securities Exchange (NSE). The case examines how Uchumi successfully recovered from receivership in 2006 owing to previous mismanagement and regained profitability after years of continued losses. A review of the company's management style and the role of the management in turning around the company are presented.

Expected learning outcomes

The case demonstrates how financially and operationally troubled corporations can be managed effectively, illustrates how corporate managers can manage corporate restructuring and receivership successfully, shows the applicability of Kotter's eight stages of leading changes successfully and other leadership approaches/theories and demonstrates the differences between the performance of a corporation before and after the restructuring process.

Supplementary materials

Teaching notes are available for educators only. Please contact your library to gain login details or email: support@emeraldinsight.com to request Teaching notes.

Details

Emerald Emerging Markets Case Studies, vol. 4 no. 2
Type: Case Study
ISSN: 2045-0621

Keywords

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Article
Publication date: 1 June 2002

Robert Hamilton, Barry Howcroft, Zhonghua Liu and Keith Pond

Outlines the UK law on insovency and asks whether the financial ratios banks use to assess credit worthiness can discriminate between the companies placed in…

Abstract

Outlines the UK law on insovency and asks whether the financial ratios banks use to assess credit worthiness can discriminate between the companies placed in administrative receivership (AR) by their lending banks which can or cannot be rescued. Applies both linear discriminant analysis and logistic regression to samples of UK companies placed into AR in 1998, explains the methodology and shows broadly similar results from the two methods; and a predictive accuracy of 85‐90 per cent for the rescued companies and 55‐60 per cent for the failures. Analyses the key ratios for survival in more detail, looking at debtor turnover, the gearing ratio and the current ratio. Recogises the limitations of the study but sees it as a promising approach to predicting survivability.

Details

Managerial Finance, vol. 28 no. 6
Type: Research Article
ISSN: 0307-4358

Keywords

Content available
Article
Publication date: 10 July 2009

Abstract

Details

Structural Survey, vol. 27 no. 3
Type: Research Article
ISSN: 0263-080X

Keywords

Content available
Article
Publication date: 29 August 2008

Abstract

Details

Structural Survey, vol. 26 no. 4
Type: Research Article
ISSN: 0263-080X

Keywords

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Article
Publication date: 1 March 1987

R.S. Thompson and M. Wright

In both the United States and Europe there has been a spectacular growth in the number and importance of management buy‐outs since the late 1970s. The typical…

Abstract

In both the United States and Europe there has been a spectacular growth in the number and importance of management buy‐outs since the late 1970s. The typical characteristics of these deals differ somewhat on either side of the Atlantic in ways which are outlined below. However, in each environment the term “buy‐out” refers essentially to the transfer of ownership of the assets of an existing firm — which may itself be an independent entity or a wholly‐owned subsidiary or division — to a new and especially established group of equity holders which intends to keep at least some of those assets in their former use. In the US buy‐outs have often involved very large asset transfers, indeed multi‐billion dollar deals have been quite frequent. The transaction is typically financed by a limited subscription of equity from specialist venture capitalists and perhaps from the firm's management, together with a very large input of debt capital. The latter has often been in the form of high coupon (so called “junk”) bonds. The characteristically high ratio of debt to equity in buy‐out finance has given rise to their American description as leveraged buy‐outs.

Details

Journal of Economic Studies, vol. 14 no. 3
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 May 2003

Barry Wilson, Sophie Burns and Hilary Brown

This paper explores the links between the PGO and social services in relation to abuse and to local authority management of the finances of vulnerable people. It also…

Abstract

This paper explores the links between the PGO and social services in relation to abuse and to local authority management of the finances of vulnerable people. It also reports a small‐scale study of adult protection co‐ordinators in social services departments, which explored the nature of and contact between the two agencies in the context of adult protection inquiries.

Details

The Journal of Adult Protection, vol. 5 no. 2
Type: Research Article
ISSN: 1466-8203

Keywords

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Article
Publication date: 1 June 1990

Nigel Vooght

Discusses some problems associated with a developer′s insolvencypart way through a building project. Explains the role and duties of areceiver and an administrative…

Abstract

Discusses some problems associated with a developer′s insolvency part way through a building project. Explains the role and duties of a receiver and an administrative receiver. Stresses the importance to finance companies of appointing a suitable receiver.

Details

Journal of Property Finance, vol. 1 no. 2
Type: Research Article
ISSN: 0958-868X

Keywords

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Article
Publication date: 11 November 2013

Chrispas Nyombi

This paper aims to provide an examination of the position employees find themselves during corporate insolvencies. The paper examines employees' rights under insolvency…

Abstract

Purpose

This paper aims to provide an examination of the position employees find themselves during corporate insolvencies. The paper examines employees' rights under insolvency procedures such as administration, company voluntary arrangements (CVA), administrative receivership, pre-packs and liquidation, to establish whether the rescue goal can be affected by employees' claims. Priorities in liquidation are also widely examined to establish the status of employees under this procedure and their entitlements.

Design/methodology/approach

Legal analysis.

Findings

The law offers more protection to employees than unsecured creditors. In comparison to unsecured creditors and even floating charge security holders, employment claims stand in a highly enviable position during insolvency.

Originality/value

The paper offers a wholesale assessment of the rights of employees during insolvency. There is a lacuna in research literature that addresses the issue of employment rights during insolvency.

Details

International Journal of Law and Management, vol. 55 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

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Article
Publication date: 1 June 1991

Peter John Male

The purpose of this research was to determine the reasons behind the volatile nature of the U.K. aircraft manufacturing industry. This instability was demonstrated in 1988…

Abstract

The purpose of this research was to determine the reasons behind the volatile nature of the U.K. aircraft manufacturing industry. This instability was demonstrated in 1988 when of the handful of U.K. general aviation aircraft manufacturers left in existence, both A.R.V. and Norman went into receivership. A further two had been drawn into receivership earlier in their history and most had a background of takeovers along with persistent financial problems.

Details

Management Research News, vol. 14 no. 6
Type: Research Article
ISSN: 0140-9174

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Article
Publication date: 1 February 1987

Martin Bale

This summer the Court of Appeal will hear a case which could affect the right of lessees to appoint a surveyor of their choice to act as a receiver and manager of their…

Abstract

This summer the Court of Appeal will hear a case which could affect the right of lessees to appoint a surveyor of their choice to act as a receiver and manager of their leasehold flats in place of their landlord, so as to enable urgent repairs to be carried out to their flats and common parts. The case concerned is Evans v Clayhope Properties Ltd and the point to be decided is whether such a receiver appointed in those circumstances can recover from the landlord in advance of the trial his fees and expenses incurred in executing the repairs he was appointed to do. In a situation where the lessees have insufficient funds and the landlord is said to be the only party with the necessary finance to meet the receiver's costs, the High Court ruled late last year that it could not order the landlord to pay the receiver's fees and expenses, in advance of the trial. The residents have appealed and this paper examines the recent developments in the law which enabled receivers and managers to be appointed in respect of leasehold blocks of flats. The paper also looks at the work and duties of a receiver and finally asks the crucial question — does the system work?

Details

Property Management, vol. 5 no. 2
Type: Research Article
ISSN: 0263-7472

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