Prospect News reports three new defaults for June 17-June 23 period

By Sarah Lizee

Olympia, Wash., June 25 – Prospect News reported three new defaults for the week of June 17 through June 23.

Specifically, Prospect News reported Chapter 11 filings made by GVS Texas Holdings I, LLC (Great Value Storage) and Country Place Senior Living (CP Holdings LLC), and a missed interest payment on Hongkong JHC Co., Ltd.’s (Peking University Founder Group Co. Ltd.) 7 7/8% guaranteed bonds due June 24, 2021.

So far in 2021, Prospect News has reported 83 defaults, including 59 Chapter 11 filings, nine missed interest payments, five Chapter 15 filings, two each of missed principal payments and Chapter 7 filings, and one each of Companies’ Creditors Arrangement Act filings, Canada Business Corporations Act filings, missed interest and principal payments, and safeguard proceedings.

The four companies that filed bankruptcy during the week reported at least $110 million in assets and at least $150 million in liabilities.

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