Prospect News reports one new default for week of May 26 to June 1

By Caroline Salls

Pittsburgh, June 3 – Prospect News reported one new default for the period of May 26 through June 1 in the form of a Chapter 11 bankruptcy filing made by Vertellus Specialties Holding Corp.

In addition, Prospect News reported a Chapter 11 bankruptcy filing made by Linc USA GP on May 29. However, Linc had previously defaulted in connection with an April 30 missed interest payment.

So far this year, Prospect News has reported 114 defaults, including 56 Chapter 11 bankruptcy filings, 34 missed interest payments, six missed principal payments, four Companies’ Creditors Arrangement Act filings, three Chapter 15 bankruptcy filings, two each of missed principal and interest payments, insolvencies and Chapter 7 bankruptcy filings and one each of administrations, judicial management requests, schemes of arrangement, missed interest payments paid late and suspension of payments.

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