Prospect News reports three new defaults for week of Nov. 14-Nov. 20

By Caroline Salls

Pittsburgh, Nov. 22 - Prospect News reported three new defaults for the period from Nov. 14 through Nov. 20.

The latest defaults came in the form of a Chapter 11 bankruptcy filing made by C & K Market Inc., Talvivaara Mining Co. plc's corporate reorganization application and Plaza Centers NV's administration and missed principal payment.

In addition, OSX Brasil SA subsidiary OSX 3 Leasing BV said it would not make a Nov. 20 retention account transfer or a Dec. 20 interest payment on its $500 million of 9¼% senior secured callable bonds due 2015.

As previously reported, OSX Brasil defaulted last week when it made a judicial recovery request.

Prospect News has reported 135 defaults so far in 2013, including 69 Chapter 11 bankruptcy filings, 23 missed interest payments, seven each of Chapter 7 bankruptcy filings and missed principal and interest payments, five distressed exchanges, four Chapter 15 bankruptcy filings, two each of involuntary Chapter 11 filings, CCAA filings, bankruptcy proceedings, insolvencies, administrations and judicial recovery requests and one each of Chapter 9 bankruptcy filings, missed principal payments, missed interest payments paid late, Schutzschirmverfahren, liquidations, provisional liquidations, corporate reorganizations and recapitalizations.

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