Prospect News reports three new defaults for Sept. 29-Oct. 5

By Sarah Lizee

Olympia, Wash., Oct. 7 – Prospect News reported three new defaults for the period of Sept. 29 through Oct. 5.

Specifically, Prospect News reported Chapter 11 filings made by Kabbage, Inc., which does business as KServicing, District Lifestyle Wylie LLC and Spring Mountain Vineyard Inc.

Prospect News also reported on a Chapter 15 filing from E-House (China) Enterprise Holdings Ltd., a missed interest payment from Evraz plc, a missed principal payment from Redsun Properties Group Ltd. and a missed interest and principal payment from Max Two Ltd., but each of these companies had defaulted previously.

So far in 2022, Prospect News has reported 120 defaults, including 60 Chapter 11 filings, 27 missed interest payments, 12 missed interest and principal payments, nine Chapter 15 filings, four missed principal payments, two liquidations, and one each of Chapter 7 filings, reorganizations, missed interest payments paid within a grace period, administrations, restructurings and bankruptcy filings.

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

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