Prospect News reports one new default for April 7-April 13 period

By Sarah Lizee

Olympia, Wash., April 14 – Prospect News reported one new default for the period of April 7 through April 13.

Specifically, Prospect News reported a Chapter 11 filing made by Ector County Energy Center LLC.

Prospect News also reported Chapter 11 filings made by ION Geophysical Corp. and Sungard AS, but the companies had defaulted previously. Specifically, ION had a missed interest payment, and a missed interest and principal payment in December, and Sungard had filed its first Chapter 11 bankruptcy in May 2019.

So far in 2022, Prospect News has reported 36 defaults, including 16 Chapter 11 filings, eight missed interest payments, five missed interest and principal payments, four Chapter 15 filings, and one each of Chapter 7 filings, liquidations and bankruptcy filings.

Ector reported at least $50 million in assets and at least $500 million in liabilities.

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