Prospect News reports two new defaults for week of July 13 to July 19

By Caroline Salls

Pittsburgh, July 21 – Prospect News reported two new defaults for the week of July 13 through July 19 in the form of Chapter 11 bankruptcy filings made by Dynamic International Airways, LLC and Beaulieu Group LLC.

In addition, Prospect News reported Mozambique’s missed interest payment on its 10˝% notes due 2023, Cell C (Pty) Ltd.’s Chapter 15 bankruptcy filing and Otium AS’s missed principal and interest payment on its senior unsecured bond issue 2012/2015. However, those three issuers had previously defaulted.

So far in 2017, Prospect News has reported 114 defaults, including 62 Chapter 11 bankruptcy filings, 17 missed interest payments, seven missed principal payments, four Chapter 15 bankruptcy filings, three distressed exchanges, two each of missed principal and interest payments, Title III filings, recapitalizations and schemes of arrangement and one each of administrations, bankruptcies, Chapter 7 bankruptcy filings, extrajudicial reorganizations, involuntary Chapter 11 bankruptcy filings, Companies’ Creditors Arrangement Act filings, notes-for-equity exchanges, plans of arrangement, liquidations, provisional liquidations, safeguard proceedings, missed maturity payments and civil rehabilitations.

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