Prospect News reports four new defaults for week of Aug. 10 to Aug. 16

By Caroline Salls

Pittsburgh, Aug. 18 – Prospect News reported four new defaults for the week of Aug. 10 through Aug. 16.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Peekay Acquisition, LLC and Badlands Energy, Inc., Seadrill Ltd.’s scheme of arrangement and Air Berlin plc’s insolvency.

In addition, Prospect News reported China Shanshui Cement Group Ltd.’s missed interest payment on its 7˝% senior notes due 2020. However, China Shanshui previously defaulted in connection with past missed interest payments and liquidation.

So far in 2017, Prospect News has reported 122 defaults, including 66 Chapter 11 bankruptcy filings, 19 missed interest payments, six missed principal payments, four each of Chapter 15 bankruptcy filings, distressed exchanges and schemes of arrangement, two each of Title III filings and recapitalizations and one each of administrations, bankruptcies, Chapter 7 bankruptcy filings, extrajudicial reorganizations, involuntary Chapter 11 bankruptcy filings, Companies’ Creditors Arrangement Act filings, missed principal and interest payments, notes-for-equity exchanges, plans of arrangement, liquidations, provisional liquidations, safeguard proceedings, missed maturity payments, insolvencies and civil rehabilitations.

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