Prospect News reports five new defaults for week of Aug. 6-Aug. 12

By Caroline Salls

Pittsburgh, Aug. 14 – Prospect News reported five new defaults for the week of Aug. 6 through Aug. 12.

Specifically, Prospect News reported Chapter 11 bankruptcy filings made by Remora Petroleum, LP, Stein Mart, Inc. and Hermitage Offshore Services Ltd., a Chapter 15 bankruptcy filing made by Grupo Famsa, SAB de CV and a scheme of arrangement proceeding filed by Codere Finance 2 (UK) Ltd. (Codere SA).

So far in 2020, Prospect News has reported 227 defaults, including 154 Chapter 11 bankruptcy filings, 30 missed interest payments, nine Chapter 15 bankruptcy filings, seven missed principal payments, five CCAA filings, four each of missed interest and principal payments and missed payments, three Chapter 7 bankruptcy filings, two each of administrations and defaults and one each of CBCA filings, CAA filings, restructurings, reorganizations, scheme of arrangement proceedings, appointments of receivers and Danish Section 11b filings.

The three companies that filed Chapter 11 bankruptcy this week listed a total of $867.54 million of assets and $941.25 million in debt.

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