Prospect News reports five new defaults for Dec. 16-Dec. 22 period

By Sarah Lizee

Olympia, Wash., Dec. 23 – Prospect News reported five new defaults for the period of Dec. 16 through Dec. 22.

Specifically, Prospect News reported Chapter 11 filings made by Hello Living Developer Nostrand LLC, 99 Sutton LLC, JP Lease Products & Services Co. Ltd. units JPA No. 111 Co., Ltd. and JPA No. 49 Co., Ltd. and Nordic Aviation Capital A/S, a restructuring by Prosafe SE/Prosafe Rigs Pte. Ltd., and a missed interest payment on Sandwell Commercial Finance No. 1 plc’s class mortgage-backed floating-rate notes due 2039.

So far in 2021, Prospect News has reported 146 defaults, including 101 Chapter 11 filings, 14 missed interest payments, seven each of Chapter 15 filings and missed principal payments, six missed interest and principal payments, three Chapter 7 filings, two each of Companies’ Creditors Arrangement Act filings and bankruptcy filings, and one each of restructurings, Canada Business Corporations Act filings, safeguard proceedings and schemes of arrangement.

The companies that filed Chapter 11 during the week reported at least $1.15 billion in assets and at least $1.7 billion in liabilities.

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