Prospect News reports five new defaults for Oct. 27-Nov. 2

By Sarah Lizee

Olympia, Wash., Nov. 4 – Prospect News reported five new defaults for the period of Oct. 27 through Nov. 2.

Specifically, Prospect News reported Chapter 11 filings made by AiBUY Holdco, Inc. and Vesta Holdings, LLC, a Chapter 15 filing made by Andrade Gutierrez International SA, a missed principal payment by GTL Infrastructure Ltd. on its 6.731% series B2 convertible bonds, and a missed payment by Core Scientific, Inc. on its equipment financing, including two bridge promissory notes. Core warned that it could be making a Chapter 11 filing in the near future.

So far in 2022, Prospect News has reported 131 defaults, including 64 Chapter 11 filings, 28 missed interest payments, 10 each of Chapter 15 filings and missed interest and principal payments, eight missed principal payments, three missed payments, two liquidations, and one each of Chapter 7 filings, reorganizations, missed interest payments paid within a grace period, administrations, restructurings and bankruptcy filings.

The two companies that filed Chapter 11 during the week reported at least $100.1 million in assets and at least $150 million in liabilities.

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