Prospect News reports four new defaults for Oct. 5 through Oct. 11

By Sarah Lizee

Olympia, Wash., Oct. 13 – Prospect News reported four new defaults for Oct. 5 through Oct. 11.

Specifically, Prospect News reported a Chapter 11 filing made by Toppos LLC, which reported at least $10 million in assets and at least $50 million in debt; Chapter 15 filings made by Ideal Protein of America Inc. and McDermott International, Inc.; and a missed interest payment by Arcimoto, Inc.

So far in 2023, Prospect News has reported 212 defaults, including 138 Chapter 11 filings; 29 missed interest payments; 15 missed principal and interest payments; eight Chapter 15 filings; six CCAA filings; three missed principal payments; two each of liquidations, conciliations, Chapter 7 filings and recapitalizations; and one each of missed interest payments paid within a grace period, bankruptcies, reorganizations, judicial reorganizations and schemes of arrangement.

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