Prospect News reports five new defaults for Nov. 19-Dec. 2 period

By Sarah Lizee

Olympia, Wash., Dec. 4 – Prospect News reported five new defaults for the week of Nov. 19 through Dec. 2.

Specifically, Prospect News reported a Chapter 11 filings made by White Stallion Energy, Northwest Hardwoods, Inc. and Guitar Center Inc., a Chapter 15 filing made by Odebrecht Engenharia e Construcao SA, and an examinership initiated by Norwegian Air Shuttle ASA.

Prospect News also reported a Chapter 11 filing made by Seadrill Partners LLC and a missed interest payment from Seadrill Ltd., but both had previously defaulted.

So far in 2020, Prospect News has reported 286 defaults, including 205 Chapter 11 bankruptcy filings, 30 missed interest payments, 13 Chapter 15 bankruptcy filings, six each of missed principal payments and CCAA filings, four each of Chapter 7 filings and missed payments, three each of missed interest and principal payments and defaults, two each of administrations, CBCA filings and scheme of arrangement proceedings and one each of distressed exchanges, reorganizations, appointments of receivers, examinerships, and Danish Section 11b filings.

The four companies that filed Chapter 11 bankruptcy during the Nov. 19 through Dec. 2 period listed $5.78 billion in assets and $4.32 billion in liabilities.

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