Prospect News reports three new defaults for May 4-May 10

By Sarah Lizee

Olympia, Wash., May 12 – Prospect News reported three new defaults for May 4 through May 10.

Specifically, Prospect News reported Chapter 11 filings made by Desolation Holdings LLC (Bittrex), the Roman Catholic Bishop of Oakland (Diocese of Oakland) and Christmas Tree Shops, LLC.

So far in 2023, Prospect News has reported 92 defaults, including 63 Chapter 11 filings, nine missed principal and interest payments, eight missed interest payments, four CCAA filings, two Chapter 15 filings, and one each of judicial reorganizations, Chapter 7 filings, events of default, recapitalizations, requests for injunctive relief, liquidations, and missed interest payments paid within a grace period.

The issuers that filed Chapter 11 during the week reported at least $650 million in assets and at least $700 million in liabilities collectively.

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