Prospect News reports three new defaults for Nov. 30-Dec. 6

By Sarah Lizee

Olympia, Wash., Dec. 8 – Prospect News reported three new defaults for Nov. 30 through Dec. 6.

Specifically, Prospect News reported Chapter 11 filings made by Mercon Coffee Corp., Nogin, Inc. and Strategic Materials Inc.

Prospect News also reported a Chapter 11 filing made by Chile’s Inversiones Latin America Power Ltda. (ILAP), but the company had previously defaulted with a missed interest payment in July.

So far in 2023, Prospect News has reported 234 defaults, including 158 Chapter 11 filings; 28 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, restructurings, judicial reorganizations and schemes of arrangement.

The companies that filed Chapter 11 during the week reported at least $310 million in assets and at least $1.2 billion in liabilities collectively.

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