Prospect News reports five new defaults for June 10-June 16 period

By Sarah Lizee

Olympia, Wash., June 18 – Prospect News reported five new defaults for the week of June 3 through June 9.

Specifically, Prospect News reported Chapter 11 filings made by U-Haul Co. of West Virginia, Washington Prime Group, Inc. and Amsterdam at Harborside Project (Amsterdam House Continuing Care Retirement Community, Inc.), a Chapter 7 filing made by Kourt Security Partners, LLC, and a missed principal payment on Pearl Holding III Ltd.’s 9˝% senior secured notes due 2022.

So far in 2021, Prospect News has reported 79 defaults, including 57 Chapter 11 filings, eight missed interest payments, five Chapter 15 filings, two each of missed principal payments and Chapter 7 filings, and one each of Companies’ Creditors Arrangement Act filings, Canada Business Corporations Act filings, missed interest and principal payments, and safeguard proceedings.

The four companies that filed bankruptcy during the week reported at least $4.13 million in assets and at least $3.78 million in liabilities.

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