Prospect News reports two new defaults for July 15-July 21 period

By Sarah Lizee

Olympia, Wash., July 23 – Prospect News reported two new defaults for the week of July 15 through July 21.

Specifically, Prospect News reported a Chapter 11 filing made by the Roman Catholic Diocese of Norwich (Norwich Roman Catholic Diocesan Corp.) and a scheme of arrangement relating to Modernland Overseas Pte. Ltd.’s (PT Modernland Realty Tbk.) 6.95% guaranteed senior notes due 2024.

So far in 2021, Prospect News has reported 96 defaults, including 67 Chapter 11 filings, 11 missed interest payments, five Chapter 15 filings, three Chapter 7 filings, two each of missed principal payments and missed interest and principal payments, and one each of Companies’ Creditors Arrangement Act filings, Canada Business Corporations Act filings, safeguard proceedings and schemes of arrangement.

The Norwich diocese listed $10 million to $50 million in estimated assets and $50 million to $100 million in estimated liabilities.

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