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Prospect News reports three new defaults for Oct. 28-Nov. 3 period
By Sarah Lizee
Olympia, Wash., Nov. 5 – Prospect News reported three new defaults for the week of Oct. 28 through Nov. 3.
Specifically, Prospect News reported Chapter 11 filings made by PWM Property Management LLC and GTT Communications Inc. and a missed interest payment on Oceanwide Holdings Co., Ltd.’s 12% notes due 2021.
So far in 2021, Prospect News has reported 128 defaults, including 91 Chapter 11 filings, 12 missed interest payments, seven Chapter 15 filings, five each of missed principal payments and missed interest and principal payments, three Chapter 7 filings, and one each of Companies’ Creditors Arrangement Act filings, Canada Business Corporations Act filings, safeguard proceedings, bankruptcies and schemes of arrangement.
The two companies that filed Chapter 11 during the week reported at least $3.8 billion in assets and at least $6.45 billion in liabilities.
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