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Corporacion Geo SAB de CV Signs Standstill Agreement With Its Creditors; Seeks To Restructure Its Debt

Wednesday, 5 Jun 2013 09:28pm EDT 

Corporacion Geo SAB de CV (GEO) announced that, in the context of the Company‚Äôs debt restructuring, it has reached a standstill agreement with its main bank creditors, which will expire on September 3, 2013. Under the terms of the agreement the creditors will cooperate in order to carry out the restructuring of all GEO's financial liabilities, the creditors will not initiate legal proceedings against the Company and they will suspend any legal proceedings already initiated. In addition, the agreement provides the basis to negotiate the possibility of receiving financing for GEO to continue operating in the ordinary course of its business. GEO will continue to report progress in due course on its restructuring process. 

Company Quote

29 Jul 2013