Prospect News reports three new defaults for week of June 25-July 1

By Caroline Salls

Pittsburgh, July 2 – Prospect News reported three new defaults for the period of June 25 through July 1.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by JW Resources, Inc. and Baha Mar Ltd., as well as Mega Retail’s request for an arrangement of debts.

In addition, Prospect News reported Molycorp, Inc.’s Chapter 11 bankruptcy filing. However, Molycorp previously defaulted in connection with a June 1 missed interest payment.

Prospect News has reported 95 defaults so far in 2015, including 42 Chapter 11 bankruptcy filings, 16 missed interest payments, nine Companies’ Creditors Arrangement Act filings, seven distressed exchanges, five Chapter 15 bankruptcy filings, three bankruptcy filings, two each of reorganizations and missed principal payments and one each of Chapter 7 bankruptcy filings, arrangements of debt, judicial recovery requests, missed interest payments paid within the grace period, missed principal and interest payments, missed payments, defaults, insolvencies and schemes of arrangement.

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