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Prospect News reports two new defaults for week of April 16-April 22
By Caroline Salls
Pittsburgh, April 24 – Prospect News reported two new defaults for the week of April 16 through April 22.
Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Elemental Processing, LLC and Northwest Co., LLC.
In addition, Prospect News reported missed principal and interest payments on Reliance Capital Ltd.’s non-convertible debentures and a missed interest payment on Qinghai Provincial Investment Group Co. Ltd.’s 7 7/8% bonds due March 22, 2021. However, Reliance and Qinghai had previously defaulted in connected with earlier missed payments.
So far in 2020, Prospect News has reported 89 defaults, including 58 Chapter 11 bankruptcy filings, 18 missed interest payments, five missed payments, three missed principal payments, two administrations and one each of missed principal and interest payments, Companies’ Creditors Arrangement Act filings and Chapter 7 bankruptcy filings.
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