Prospect News reports six new defaults for week of Oct. 31 to Nov. 6

By Caroline Salls

Pittsburgh, Nov. 8 - Prospect News reported six new defaults for the period from Oct. 31 through Nov. 6.

The latest defaults came in the form of Chapter 11 bankruptcy filings made by Simply Wheelz LLC (Advantage Rent A Car), Edwin Watts Golf Shops, LLC, Atlantic Express Transportation Corp. and Velti Inc., JSC Liepajas Metalurgs' insolvency and Jaguar Mining Inc.'s missed interest payment on its 4.5% senior convertible notes due Nov. 1, 2014.

In addition, Prospect News reported Suntech Power Holdings Co., Ltd.'s provisional liquidation. However, Suntech previously defaulted in connection with an Oct. 14 involuntary Chapter 7 bankruptcy case and a March 15, 2013 missed principal and interest payment.

Prospect News has reported 125 defaults so far in 2013, including 66 Chapter 11 bankruptcy filings, 21 missed interest payments, seven Chapter 7 bankruptcy filings, six missed principal and interest payments, five distressed exchanges, three Chapter 15 bankruptcy filings, two each of involuntary Chapter 11 filings, CCAA filings, bankruptcy proceedings and insolvencies and one each of missed principal payments, Chapter 9 bankruptcy filings, administrations, missed interest payments paid late, Schutzschirmverfahren, liquidations, provisional liquidations, judicial recovery requests and recapitalizations.

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