Prospect News reports one new default for week of July 26 to Aug. 1

By Caroline Salls

Pittsburgh, Aug. 3 - Prospect News reported one new default for the week of July 26 through Aug. 1 in the form of San Bernadino, Calif.'s Chapter 9 bankruptcy filing.

Prospect News has reported a total of 92 defaults so far in 2012.

Of those, 53 were Chapter 11 filings, eight each stemmed from missed interest payments and distressed exchanges, five resulted from missed principal payments, four each were from Chapter 15 bankruptcy filings and Companies' Creditors Arrangement Act filings, two resulted Chapter 9 bankruptcy filings, and one each stemmed from missed principal and interest payments, corporate debt restructuring, examinership, insolvency, administration, notices of default and acceleration, reorganization and Chapter 7 bankruptcy filings.

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