Prospect News reports four new defaults for week of April 27 to May 3

By Caroline Salls

Pittsburgh, May 5 – Prospect News reported four new defaults for the week of April 27 through May 3.

Specifically, Prospect News reported Ameriforge Group Inc.’s Chapter 11 bankruptcy filing, the Commonwealth of Puerto Rico’s Title III filing, Alitalia - Societa Aerea Italiana SpA’s extraordinary administration and Avangardco Investments Public Ltd.’s missed interest payment on its 10% notes due 2018.

In addition, Prospect News reported Far East Capital Ltd. SA’s missed interest payment on its 8% senior secured notes due 2018 and 8¾% senior secured notes due 2020 and Nuverra Environmental Solutions, Inc.’s Chapter 11 bankruptcy filing. However, Far East Capital and Nuverra had both previously defaulted in connection with missed interest payments.

So far in 2017, Prospect News has reported 72 defaults, including 43 Chapter 11 bankruptcy filings, 11 missed interest payments, five missed principal payments, three distressed exchanges, two recapitalizations and one each of administrations, bankruptcies, Chapter 7 bankruptcy filings, notes-for-equity exchanges, missed principal and interest payments, plans of arrangement, extraordinary administrations and Title III filings.

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