Chapter 17 - MERIDIAN FIELD SYSTEMS
Meridian entered restructuring.
Not collapse.
The federal government suspended certain contracts pending responsibility review.
Some work continued under supervision.
Commercial clients remained.
Independent board appointed.
Ryan removed.
Linda’s influence terminated.
Horizon contracts froze.
Four hundred employees did not automatically lose jobs.
Some layoffs happened.
Real consequences.
A maintenance division closed.
Two warehouses sold.
The company refinanced without Bennett trust support.
How?
Equity injection.
Asset sales.
Lower owner distributions.
New lender with actual collateral.
Government receivables after verified work.
The impossible emergency had alternatives.
Always.
Ryan had preferred my signature because it preserved his ownership and Horizon cash flow.
Employee jobs were leverage.
Not sole reason.
First Hanover exited the Horizon investment through negotiated recovery.
Initial $6.4 million investment.
Final recovery after restructuring and settlements:
About $5.1 million over time.
Loss.
Not total.
Civil claims against Ryan/Linda and insurers recovered additional amounts.
My trust survived.
The point was never perfection.
It was control staying where documents lawfully placed it.
Bennett Strategic Systems terminated all Meridian-related special arrangements.
Its board tightened related-party review.
I accepted an observer seat.
Not because Dad told me.
Because I was done with strategic ignorance.
I read every packet.
May you like
Hated every packet.
Growth.
