In July 2010, William Ackman, the creator of Pershing Square, is contemplating a prospective new chance: the acquisition of the distressed Stuyvesant Town and Peter Cooper Village ("ST /PCV") complex. Its owners had recently abandoned the property and had come under the control of CW Capital, the special servicer for the vast amount of debt which was in default. Any investment in a distressed property might require the organization to seek protection in the bankruptcy courts and could be very insecure. It might add significant complexity and unknown outcomes, while the insolvency process was old for Ackman. Ackman must consider whether this is really a rewarding investment, given the equivocal valuation and significant public scrutiny of any investment deal.
Stuyvesant Town - Peter Cooper Village America's Largest Foreclosure case study solution
PUBLICATION DATE: May 25, 2011 PRODUCT #: 211106-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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