Prospect News reports three new defaults for week of May 28-June 3

By Caroline Salls

Pittsburgh, June 5 – Prospect News reported three new defaults for the week of May 28 through June 3.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by APC Automotive Technologies, LLC, Libbey Inc. and LVI Intermediate Holdings, Inc.

In addition, Prospect News reported a Chapter 11 bankruptcy filing made by Templar Energy LLC, a Chapter 15 bankruptcy filing made by NMC Health plc, missed interest and principal payments on Reliance Capital Ltd.’s nonconvertible debentures, a missed interest payment on Omnia Private Equity AG’s 7¼% five-year series 2017-F1 notes due 2022 and a missed principal payment on 49 North Resources Inc.’s 2.5% series 1 convertible senior secured debentures. However, all of those companies had previously defaulted.

So far in 2020, Prospect News has reported 134 defaults, including 92 Chapter 11 bankruptcy filings, 20 missed interest payments, six missed payments, four each of CCAA filings and missed principal payments, three Chapter 15 bankruptcy filings, two missed principal and interest payments and one each of administrations, Danish Section 11b filings and Chapter 7 bankruptcy filings.

The four companies that filed Chapter 11 bankruptcy this week listed a total of $1.717 billion of assets and $3.232 billion in debt.

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