Prospect News reports three new defaults for March 17-March 23

By Sarah Lizee

Olympia, Wash., March 25 – Prospect News reported three new defaults for the period of March 17 through March 23.

Specifically, Prospect News reported Chapter 11 filings made by Footprint Power Salem Harbor Development LP, Migration Productions I LA, LLC and Buyk Corp.

Prospect News also reported missed interest and principal payments on Yango Group Co., Ltd.’s 5.3% senior notes due Jan. 11, 2022 and 10¼% senior notes due March 18, 2022 and a missed interest payment on the company’s 8¼% senior notes due 2023, but the company had already defaulted with missed interest payments previously.

So far in 2022, Prospect News has reported 24 defaults, including 10 Chapter 11 filings, four Chapter 15 filings, five missed interest and principal payments, three missed interest payments, and one each of liquidations and bankruptcy filings.

The three companies that filed Chapter 11 during the week listed at least $520 million in assets and $650 million in liabilities.

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