Prospect News reports one new default for Aug. 19-Aug. 25 period

By Sarah Lizee

Olympia, Wash., Aug. 27 – Prospect News reported one new default for the week of Aug. 19 through Aug. 25.

Specifically, Prospect News reported a Chapter 11 filing made by Kansas City United Methodist Retirement Home, Inc., which does business as Kingswood Senior Living Community.

So far in 2021, Prospect News has reported 103 defaults, including 71 Chapter 11 filings, 11 missed interest payments, six Chapter 15 filings, three each of Chapter 7 filings and missed interest and principal payments, two missed principal payments, and one each of Companies’ Creditors Arrangement Act filings, Canada Business Corporations Act filings, safeguard proceedings and schemes of arrangement.

Kingswood reported at least $10 million in estimated assets and at least $50 million in estimated liabilities.

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