Prospect News reports one new default for May 12-May 18 period

By Sarah Lizee

Olympia, Wash., May 20 – Prospect News reported one new default for the period of May 12 through May 18.

Specifically, Prospect News reported a Chapter 11 filings made by Pareteum Corp.

Prospect News also reported missed interest payments made by Petropavlovsk plc and Escher Marwick plc, but both companies had previously defaulted several times.

So far in 2022, Prospect News has reported 55 defaults, including 23 Chapter 11 filings, 16 missed interest payments, seven missed interest and principal payments, four Chapter 15 filings, and one each of Chapter 7 filings, reorganizations, liquidations, administrations, and bankruptcy filings.

Pareteum reported $10 million to $50 million in assets and $50 million to $100 million in liabilities.

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