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Prospect News reports two new defaults for April 15-April 21 period
By Sarah Lizee
Olympia, Wash., April 23 – Prospect News reported two new defaults for the week of April 15 through April 21.
Specifically, Prospect News reported a Chapter 11 filing made by Connections Community Support Programs, Inc. and a missed interest payment on Basic Energy Services Inc.’s 10¾% senior secured notes due 2023.
In addition, Prospect News reported a Chapter 15 filing made by Samarco Mineracao SA, but the company had previously defaulted in 2016 with three missed interest payments.
So far in 2021, Prospect News has reported 60 defaults, including 44 Chapter 11 filings, five each of Chapter 15 filings and missed interest payments, and one each of Companies’ Creditors Arrangement Act filings, Canada Business Corporations Act filings, Chapter 7 filings, missed interest and principal payments, missed principal payments and safeguard proceedings.
Connections Community Support Programs posted over $50 million in both assets and liabilities.
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