Prospect News reports four new defaults for week of Oct. 11-Oct. 17

By Caroline Salls

Pittsburgh, Oct. 19 – Prospect News reported four new defaults for the week of Oct. 11 through Oct. 17.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Mission Coal Co., LLC, NRG REMA LLC and Sears Holdings Corp. and a missed principal and interest payment on China Singyes Solar Technologies Holding Ltd.’s 6¾% notes due Oct. 17.

In addition, Prospect News reported missed interest payments on Seven Energy International Ltd.’s 10¼% senior secured notes due 2021 and 10½% notes due 2021. However, Seven Energy had previously defaulted in connection with several other missed interest payments.

So far in 2018, Prospect News has reported 121 defaults, including 62 Chapter 11 bankruptcy filings, 22 missed interest payments, four each of bankruptcies, missed principal and interest payments and missed principal payments, three each of Chapter 7 bankruptcy filings and distressed exchanges, two each of administrations, Chapter 15 bankruptcy filings, liquidations, debt-for-equity exchanges and schemes of arrangement and one each of Companies’ Creditors Arrangement Act filings, compulsory liquidations, composition of creditors filings, insolvencies, involuntary Chapter 7 cases, missed interest payments paid late, missed payments, recapitalizations and restructurings.

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