Prospect News reports five new defaults for week of March 8-March 14

By Caroline Salls

Pittsburgh, March 16 – Prospect News reported five new defaults for the week of March 8 through March 14.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Zohar III, Corp., Miami International Medical Center, LLC and Orexigen Therapeutics, Inc., a missed interest payment on Noble Group Ltd.’s 8¾% notes due March 9, 2022 and a missed principal payment on Hilleren Invest AS’ 14% senior secured bond issue 2016/2017.

Prospect News also reported a missed interest payment on China Shanshui Cement Group Ltd.’s 7½% senior notes due 2020. However, China Shanshui had previously defaulted.

So far in 2018, Prospect News has reported 38 defaults, including 23 Chapter 11 bankruptcy filings, five missed interest payments three bankruptcies and one each of restructurings, recapitalizations, compulsory liquidations, distressed exchanges, debt-for-equity exchanges, missed principal payments and missed principal and interest payments.

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