Mannai Corporation (B): Back From the Brink Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Mannai Corporation, one of the oldest and largest privately held companies in Qatar stood before his death in late 2000. A combination of events has led to the achievement of the company significant limitations borrowing by banks with interest liabilities close to $ 1 million a month, Mann was close to collapse. A consortium of bank lenders went out to assess the situation and try to prevent the crisis in the economy of Qatar. One of their initial priorities was the appointment of a strong CEO and after some persuasion, Kate Higley, an experienced banker who has spent much of his career in the Middle East, accepted the challenge. The initial mandate of Higley, when he took over as CEO of Mannai Corporation March 12, 2001 was two-fold: to keep the company afloat, the fair value should be obtained for many is the disposal of assets and make an informed decision on whether training was possible or not. PricewaterhouseCoopers (PwC) report of the consortium of banks have set options. Elimination was the first option, which would prevent a further spiral of losses, but will limit the prices received for the assets to be sold. The alternative would be to sell the business as a going concern, but any potential buyer will require a substantial debt relief Mannai. The third option is probably the most risky, was an exercise involving the restructuring. Regardless of the banks decided to long-term future of Mannai, Higley, needed to address some of the issues at once. "Hide
by Stuart Hamilton, Sarah Hutton Source: IMD 30 pages. Publication Date: February 2, 2007. Prod. #: IMD248-PDF-ENG