Prospect News reports four new defaults for week of Nov. 5 to Nov. 11

By Caroline Salls

Pittsburgh, Nov. 13 – Prospect News reported four new defaults for the period of Nov. 5 through Nov. 11.

Specifically, Prospect News reported Millennium Health LLC’s Chapter 11 bankruptcy filing, Parallel Energy Trust’s Chapter 11 and Companies’ Creditors Arrangement Act filings, Far East Energy Corp.’s Chapter 7 bankruptcy filing and a distressed exchange made by Affinion Group Holdings, Inc. in connection with the 13¾%/14½% senior secured PIK/toggle notes due 2018 and 13½% senior subordinated notes due 2018 issued by Affinion Investments, LLC.

In addition, Prospect News reported a CCAA case filed by Essar Steel Algoma Inc. and a missed interest payment by Puerto Rico Public Finance Corp. However, both entities had previously defaulted.

Prospect News has reported 153 defaults so far in 2015, including 74 Chapter 11 bankruptcy filings, 24 missed interest payments, 10 Companies’ Creditors Arrangement Act filings, nine distressed exchanges, seven Chapter 15 bankruptcy filings, four bankruptcy filings, three each of Chapter 7 bankruptcy filings, missed principal and interest payments, administrations and missed principal payments, two each of reorganizations and defaults and one each of Chapter 9 bankruptcy filings, arrangements of debt, judicial recovery requests, missed payments, missed interest payments paid within the grace period, insolvencies, Schutzschirmverfahren in Eigenverwaltung, schemes of arrangement and moratoriums.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.