Prospect News reports two new defaults for week of Sept. 12-Sept. 18

By Caroline Salls

Pittsburgh, Sept. 20 - Prospect News reported two new defaults for the week of Sept. 12 to Sept. 18.

The latest defaults came in the form of Chapter 11 bankruptcy filing made by Electric Transportation Engineering Corp. and a failure-to-pay credit event for Codere Finance (Luxembourg) SA.

Prospect News also reported a Chapter 11 bankruptcy filing made by FriendFinder Networks Inc. FriendFinder previously defaulted in connection with missed excess cash flow payments.

Prospect News has reported 104 defaults so far in 2013, including 55 Chapter 11 filings, 18 missed interest payments, six Chapter 7 bankruptcy filings, five missed principal and interest payments, four distressed exchanges, three Chapter 15 bankruptcy filings, two each of involuntary Chapter 11 filings, bankruptcy proceedings, missed principal payments and missed payments and one each of Chapter 9 bankruptcy filings, insolvencies, administrations, Schutzschirmverfahren and recapitalizations.

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