Situation

GEO was operating under a forbearance agreement after violating its covenants, which triggered a default. GEO was also facing potential Sherman Antitrust Act violations as it attempted to complete its year-end financials, which were to be reviewed its auditor with the intention to receive a clean audit opinion for year-end 2015.​

Engagement

G2’s engagement entailed reviewing GEO’s operations and financial projections, understanding implications of the Sherman allegations and potential civil antitrust exposure, and developing an amendment to the Credit Agreement that satisfied the objectives of the lender group, the Company, and the Company’s auditor.​

Outcome

G2 worked directly with the agent, the agent’s counsel, and the Company to successfully advise on the development of a credit amendment that appropriately captured the needs of the lender group, Company management, the Company’s counsel, and the Company’s auditors in order to allow for a smooth negotiation process and a timely close to the Credit Amendment, as well as a clean audit opinion for the Company.​