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Prospect News reports five two new defaults for Nov. 10-Nov. 16
By Sarah Lizee
Olympia, Wash., Nov. 18 – Prospect News reported two new defaults for the period of Nov. 10 through Nov. 16.
Specifically, Prospect News reported Chapter 11 filings made by FTX Trading Ltd. and Urban Commons 2 West LLC.
Prospect News also reported a missed principal and interest payment on Borets Finance DAC’s 6% guaranteed notes due 2026 and a missed interest payment on Golden Wheel Tiandi Holdings Co. Ltd.’s 10% senior notes due 2025, but both companies had previously defaulted.
So far in 2022, Prospect News has reported 139 defaults, including 68 Chapter 11 filings, 33 missed interest payments, 11 missed principal and interest payments, 10 Chapter 15 filings, eight missed principal payments, two liquidations, and one each of Chapter 7 filings, reorganizations, missed interest payments paid within a grace period, administrations, restructurings, missed payments and bankruptcy filings.
The two companies that filed Chapter 11 during the week reported at least $10.1 billion in assets and at least $10.1 billion in liabilities. The bulk of that belongs to FTX, which said it may have over 1 million creditors.
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