Prospect News reports three new defaults for April 1-April 7 period

By Sarah Lizee

Olympia, Wash., April 9 – Prospect News reported three new defaults for the week of April 1 through April 7.

Specifically, Prospect News reported Chapter 11 filings made by TECT Aerospace Group Holdings, Inc., Collected Group, LLC and Stoneway Capital Ltd.

So far in 2021, Prospect News has reported 55 defaults, including 41 Chapter 11 filings, four Chapter 15 filings and missed interest payments and one each of Companies’ Creditors Arrangement Act filings, Canada Business Corporations Act filings, Chapter 7 filings, missed interest and principal payments, missed principal payments and safeguard proceedings.

The three companies that filed Chapter 11 in the week posted over $675 million in assets and over $1.18 billion in liabilities.

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