Prospect News reports four new defaults for March 4-March 10 period

By Sarah Lizee

Olympia, Wash., March 12 – Prospect News reported four new defaults for the week of March 4 through March 10.

Specifically, Prospect News reported Chapter 11 filings made by Sundance Energy, Inc., CarbonLite Industries LLC, Medley LLC and FMT SJ LLC.

Prospect News also reported a Chapter 15 filing made by Just Energy Group Inc., but the company had previously defaulted in July 2020, when it announced a recapitalization to be facilitated through a plan of arrangement under the Canada Business Corporations Act.

So far in 2021, Prospect News has reported 42 defaults, including 32 voluntary Chapter 11 filings, three each of Chapter 15 filings and missed interest payments, one each of involuntary Companies’ Creditors Arrangement Act filings, Chapter 11 filings, missed principal payments and safeguard proceedings.

The four companies that filed Chapter 11 bankruptcy during the week reported over $461.85 million in assets and over $678.82 million in liabilities.

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