Prospect News reports three new defaults for Dec. 17-Dec. 23 period

By Sarah Lizee

Olympia, Wash., Dec. 24 – Prospect News reported three new defaults the week of Dec. 17 through Dec. 23.

Specifically, Prospect News reported Chapter 11 filings made by Spherature Investments LLC (WorldVentures), Renovate America Inc. and 85 Flatbush RHO Mezz LLC.

So far in 2020, Prospect News has reported 294 defaults, including 212 Chapter 11 bankruptcy filings, 30 missed interest payments, 13 Chapter 15 bankruptcy filings, six each of missed principal payments and CCAA filings, four each of Chapter 7 filings and missed payments, three each of missed interest and principal payments, defaults and administrations, two each of CBCA filings and scheme of arrangement proceedings and one each of distressed exchanges, reorganizations, appointments of receivers, examinerships, and Danish Section 11b filings.

The three companies that filed Chapter 11 this week listed over $150 million in assets and over $250 million in liabilities.

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