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Bullboard - Stock Discussion Forum Tuscany International Drilling Inc T.TID

Energy Oil & Gas Equipment & Services

Bullboard (TSX:TID)

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Comment by dogtoobadon Feb 03, 2014 1:31pm

RE:RE:RE:RE:Chapter 11 vs. 7

Not sure it can be done. CS is not an operating company and has no insurance for the purposes of "renting". Bank looks after the recovery of the lending not shareholder interest. In ...more  
105
Discussion
Comment by RonJadleron Feb 03, 2014 1:13pm

RE:RE:RE:Chapter 11 vs. 7

Thats because there was fraud at Poseiden.. approximately $95 million to $106 million (subject to detailed quantification by the Company) of the Company's $148.1 million in revenue for the 9 ...more  
149
Discussion
Comment by Fullblaston Feb 03, 2014 1:12pm

RE:RE:RE:RE:RE:Chapter 11 vs. 7

Jack, chapter 11 is complicated and every situation is different. That's why it goes before a judge where creditors and management state their case. Right now, they all seem to be in agreement ...more  
104
Discussion
Comment by justsomeguytradingon Feb 03, 2014 1:05pm

RE:RE:RE:Chapter 11 vs. 7

Oh Jack, kills me to remember my 25K loss on PSN... didn't learn cause this was worse :)
100
Discussion
Comment by jakethesnake2on Feb 03, 2014 1:00pm

RE:RE:RE:RE:Chapter 11 vs. 7

You would think that he would not give up so easily as you say but I don't see any other way out. I hope there's a solution out there  where the shareholders would come out hole but I can ...more  
87
Discussion
Comment by Fullblaston Feb 03, 2014 12:48pm

RE:RE:RE:Chapter 11 vs. 7

People, I can't imagine Walter giving up so easily on 10 miilions of his stocks...
79
Discussion
Comment by jakethesnake2on Feb 03, 2014 12:44pm

RE:RE:Chapter 11 vs. 7

justsomeguytrading, As much as it pains me to say, I concur that our shares will most probably be worthless. Good thing that for once my loss will not be as painful as the last one I had (Poseiden ...more  
98
Discussion
Comment by justsomeguytradingon Feb 03, 2014 12:34pm

RE:Chapter 11 vs. 7

A bit of additional information. Source: Wikipedia I posted these as much for myself as anyone else. IMHO the avenue that TID is currently on is one that is working in the best interests of ...more  
112
Discussion
Comment by RHertigon Feb 03, 2014 12:32pm

RE:The DIP facility and the Implications

 This is true. They can also ask taht for their money the judge wipe all common stock and issue it to them for that money. That doesn't mean the judge will say yes but not only will they ...more  
104
Discussion
Post by justsomeguytradingon Feb 03, 2014 12:24pm

Chapter 11 vs. 7

I apologize if this has been posted already. Source: Investopedia. Please see the last line. Chapter 7 bankruptcy is sometimes also called liquidation bankruptcy. Firms experiencing this ...more  
148
Discussion
Comment by khaledbon Feb 03, 2014 12:14pm

RE:The DIP facility and the Implications

@perdikaoilgas ...sorry to say this but .... all what you were saying about TID since few months about was completely wrong. 
113
Discussion
Comment by khaledbon Feb 03, 2014 12:03pm

RE:RE:RE:Expedited Delisting Review

In the actual situation TID's chances to emerge from Chapter 11 are very weak, Walter struggled more than one year but he failed, they closed Paris and Houston office, they wrote-down receivables ...more  
118
Discussion
Post by perdikaoilgason Feb 03, 2014 11:54am

The DIP facility and the Implications

1) A bank does not give one single penny (let alone $35 million) to a company if the ship is sinking. Obviously CS believes or knows or has strong evidence that Tuscany needs some time to rightsize ...more  
181
Discussion
Comment by dogtoobadon Feb 03, 2014 11:52am

RE:RE:RE:Expedited Delisting Review

Any companies under Chapter 11 has several issues, among others, are shareholder interest, bank interest, and potential buyer Interest. Guess who ranks the last! Buyers are bottom fishing. They knew ...more  
116
Discussion
Comment by Fullblaston Feb 03, 2014 11:28am

RE:RE:Expedited Delisting Review

Khaledb, the best for shareholders, creditors and management is to see this company emerge stronger from Chapter 11.
104
Discussion
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