Prospect News reports four new defaults for Aug. 25-Aug. 31

By Sarah Lizee

Olympia, Wash., Sept. 2 – Prospect News reported four new defaults for the period of Aug. 25 through Aug. 31.

Specifically, Prospect News reported Chapter 11 filings made by NewAge, Inc., Packable Holdings, LLC and Lumileds Holding BV and a missed interest payment on Hong Seng Ltd.’s 9 7/8% senior notes due 2022.

So far in 2022, Prospect News has reported 103 defaults, including 51 Chapter 11 filings, 24 missed interest payments, 13 missed interest and principal payments, seven Chapter 15 filings, two liquidations, and one each of Chapter 7 filings, reorganizations, administrations and bankruptcy filings.

The companies that filed Chapter 11 bankruptcy during the week reported at least $460.9 million in assets and at least $2.12 billion in liabilities.

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