Rating: 
Summary: Outstanding book
Review: After reading half through it, I find that the book is not only of use as a textbook in an MBA-level course on corporate restructuring but it is an outstanding reference guide that will prove useful for all practitioners in the restructuring and turnaround fields. It introduces many real world cases that present the complex reality of executing a successful turnaround under a distressed environment. For instance, how can a company that has leased expensive equipment that it no longer needs, or that has been hit with major tort (e.g., asbestos) lawsuits, use Chapter 11 to effectively manage those liabilities? Or what decisions have to be undertaken as part of implementing a corporate spinoff, such as allocating overhead, resetting executive stock options, setting the terms of trade between the two separating units after the spinoff, etc.?) The book includes excellent articles on the distressed investing business, and provided a book introduction and module introductions that summarize relevant academic scholarship in each area. Some may feel that it doesn't give a final answer but it is the nature of the case study to end with a "cliff hanger" ... pose the real problem or challenge that management faces, as well as the options available for dealing with those problems and challenges. There is no right answer or ideal process. The analytical tools and legal framework presented at the beginning of each module are useful for the reader to build his own prespective; This is why the book is AN ENGAGING ONE.
Rating:
Summary: A Value Creating Contribution !
Review: As corporations respond to the incessant pressure to unlock and deliver value for investors, restructuring transactions have tended to become increasingly complex and constant demand innovative and creative soultions. Management teachers and students alike have been seriously handicapped by the absence of a focused academic book on the subject of Corporate Restructuring.Professor Gilson's pioneering contribution thus not only fills this gap, it goes far beyond in offering a reference guide for practioners and consultants as well. Through a series of well-written cases in varied settings, Professor Gilson has eminently succeeded in highlighting the critical issues that require to be addressed in restructuring and providing conceptual framework for balancing conflicting interests of the various stakeholder groups. I have gained considerable insights and conceptual clarity from the book and would strongly recommend this, in particular,to the banks and financial institutions in developing countries that juggle (struggle?) with complex restructuring cases.
Rating:
Summary: A + Required Reading for Restructuring Advisors
Review: Creating Value through Corporate Restructuring exemplifies the practical application of academic theory to real practice by creating a three-prong strategy for handling cases of some of the most interesting and relevant restructurings to date. Designing, executing and marketing the restructuring strategy helps to maintain the focus of all the constituencies even in the very fast moving dynamic environments restructurings take place in. Gilson flexes his knowledge with very useful historical and statistical research and legal explanations providing a real framework for truly understanding all of the aspects surrounding the cases. The book is cleverly organized around the three main constituencies in a restructuring: creditor claims, shareholder claims and employee claims making the book a useful reference. The cases will engage you like an interesting short story with an inevitable climax of a restructuring and a real feel that you're inside the deal team. Our firm provides financial advisory services to financially distressed companies nationwide, this book provides great insights, strategies and methods that are very applicable to our clients and will be made a permanent part of our reference and training resources - J. Sands, Partner, The Spectrum Capital Group LLC, NM
Rating: 
Summary: no coverage of implemented restructuring plans or evalutions
Review: Disappointing. I was expecting to be able to see the author's evaluation and analysis of the restructuring plans which were implemented in each instance. If I had known that this book only attempts to "set the scene", then I wouldn't have bothered to buy it. I guess that if you have the time to reflect on the scenarios and come up with a group moderated hypothetical solution then the book might satisfy some people but if you are in the field and looking for possible guidance or at least the benefit of someone's hindsight, then give the book a miss.
Disappointing
Rating:
Summary: An Important Book
Review: Gilson gives an up-close-and-personal view of how corporate reorganization works. By using case studies, he makes the topics come alive. At the same time that he entertains, he teaches important lessons about dealing with substantial business setbacks. The book is full of interesting ideas. Difficult concepts are taught not as an abstraction, but in the context of solving a hard problem. Gilson offers a sophisticated analysis that is always clear and often entertaining. A must-read for serious business people.
Rating:
Summary: A turnaround artist's vital reference
Review: Having spent 20 years in the corporate revitalization business, I am well aware of the paucity of literature on the subject. Stuart Gilson's new book,"Creating value through corporate restructuring" helps to fill the void and is an invaluable resource for every turnaround professional committed to developing their skill set and knowledge. The case studies provide an opportunity to gain years of experience in a short period of time and are written in a fashion that makes the effort enjoyable as well. As the turnaround profession continues to grow, I am sure that this book will be a staple of thoughtful professionals for many,many years to come.
Rating:
Summary: Valuable Reading for the Seasoned Professional and Novice
Review: Having spent most of the last 20 years in the financial/corporate restructuring world, I have continued to search for useful and interesting literature on the subject. Having read many of Professor Gilson's prior published papers, combined with endorsements for the book from many of the "Deans" of the restructuring world, the "purchase decsion" was an easy one. I was not disappointed!The book is useful and refreshing for restructuring industry participants at all levels from seasoned executives to novices. I have drawn on the concepts and problems outlined in a variety of situations, including brainstorming about particularly difficult issues concering client matters to assisting in the development of objectives for some of my firm's internal training materials. I found the chapter on "Investing in Disressed Situations" combined with the two appendices on technical analyses (some of which I had previously read as journal papers) to be excellent summaries. These would prove useful to any reader and especially helpful to newer participants or students of financial restructuring. Coporate Restructuring is designed as a case study text book. To some, including myself having received an MBA from the University of Chicago, this approach can be somewhat awkward. The advantage of the approach, especialy in restructuring, is that it does emulate the real world situation faced by turnaround/crisis management practitioners and investment bankers. The devolpment of the "theory" or "solution" is left to the reader. This is the correct approach since each restructuring case tends to be "unique and hand crafted"---"cook book" approaches can lead to incorrect answers and disastrous results for clients. Coporate Restructuring is a "must read" for students of restructuring. It belongs in the library of all practitioners, principals and agents, in this area.
Rating:
Summary: A highly useful resource
Review: I've been in the restructuring and workouts business for over ten years, and consider this to be one of the best resources that is available on the subject. While there are numerous books out there on the turnaround-restructuring process, most are written at a high level of generality, and are full of platitudes ("listen to your customers!") that provide no useful guidance to practitioners or managers. This book presents case studies of actual restructurings which lay out in detail the challenges and tradeoffs that turnaround managers face. As case studies, they don't give the "what happened," which is admittedly somewhat frustrating. However, it is immensely valuable to know what options are available to solve a given problem (impending insolvency, spinoff, sacking employees, etc), and the cases nicely lay out what factors need to be considered in choosing among the options. The book also includes useful chapters that describe the business of buying and selling distressed debts, and provide a methodology for estimating the value of troubled companies. Although the book is not perfect, it is by far the best reference out there in what is becoming an increasingly crowded market.
Rating:
Summary: A highly useful resource
Review: I've read many books that discuss the issues of corporate restructuring and mergers and acquisitions. In fact, next year I'll teach a course on the subject at Harvard University. I plan on using Professor Gilson's book as the textbook in the course. I believe it is a great source of information regarding the various issues of restructuring. It teaches the material via the case method, which has made Harvard's schools what they are today. The textbook discusses such issues as the roles of management, board of directors, and restructuring professionals. It includes a well balanced mix of "real world" examples and academic research on topics such as bankruptcies, employee claims, and various restructuring transactions such as carve-outs and tracking stocks. I have no doubt that my students will deem this text to be highly valuable and "on point", as would any reader interested in learning more about the exciting world of corporate restructuring.
Rating:
Summary: Best Restructuring Book on Market!!
Review: I've read many books that discuss the issues of corporate restructuring and mergers and acquisitions. In fact, next year I'll teach a course on the subject at Harvard University. I plan on using Professor Gilson's book as the textbook in the course. I believe it is a great source of information regarding the various issues of restructuring. It teaches the material via the case method, which has made Harvard's schools what they are today. The textbook discusses such issues as the roles of management, board of directors, and restructuring professionals. It includes a well balanced mix of "real world" examples and academic research on topics such as bankruptcies, employee claims, and various restructuring transactions such as carve-outs and tracking stocks. I have no doubt that my students will deem this text to be highly valuable and "on point", as would any reader interested in learning more about the exciting world of corporate restructuring.
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