Prospect News reports four new defaults for week of Sept. 1 to Sept. 7

By Caroline Salls

Pittsburgh, Sept. 9 – Prospect News reported four new defaults for the period of Sept. 1 through Sept. 7.

Specifically, Prospect News reported a Chapter 11 bankruptcy filing made by The Picture People (TPP Acquisition, Inc.), a Chapter 15 bankruptcy filing made by Hanjin Shipping Co., Ltd., Componenta Corp.’s restructuring and a missed interest payment on PetroQuest Energy, Inc.’s 10% senior notes due 2017.

In addition, Prospect News reported a missed interest payment on Key Energy Services, Inc.’s 6.75% senior notes due 2021. However, Key Energy had previously defaulted.

So far this year, Prospect News has reported 163 defaults, including 79 Chapter 11 bankruptcy filings, 41 missed interest payments, seven each of Chapter 15 bankruptcy filings and missed principal and interest payments, six missed principal payments, four Companies’ Creditors Arrangement Act filings, three each of Chapter 7 bankruptcy filings and missed interest payments paid within the grace period, two each of insolvencies and restructurings and one each of CBCA filings, administrations, judicial management requests, schemes of arrangement, debt arrangements, missed interest payments paid late, liquidations, mandataire ad hoc appointments and homologacions.

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