Prospect News reports two new defaults for week of Oct. 30 to Nov. 5

By Caroline Salls

Pittsburgh, Nov. 7 – Prospect News reported two new defaults for the period of Oct. 30 through Nov. 5.

Specifically, Prospect News reported Marion Energy Inc.’s Chapter 11 bankruptcy filing and Bumi Investment Pte. Ltd.’s delayed October coupon payment on its 10¾% guaranteed secured notes due 2017.

In addition, Prospect News reported UniTek Global Services, Inc.’s Chapter 11 bankruptcy filing. However, UniTek previously defaulted in connection with a May 29, 2013 missed interest payment.

Prospect News has reported 117 defaults so far for 2014, including 61 Chapter 11 bankruptcy filings, 10 missed interest payments, nine Chapter 15 bankruptcy filings, four each of administrations and controlled management requests, three each of Companies’ Creditors Arrangement Act filings, missed payments and missed principal and interest payments, two each of concurso mercantil filings, insolvencies, distressed exchanges and missed principal payments and one each of bankruptcy filings, bankruptcy administrations, defaults, judicial recovery requests, Chapter 7 bankruptcy filings, missed interest payments paid within the grace period, missed coupon payments, reconstructions, reorganizations, restructurings, curatorships and liquidations.

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