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Tuscany International Drilling Inc T.TID



TSX:TID - Post by User

Post by Fullblaston Jan 24, 2014 10:36pm
228 Views
Post# 22133075

Chapter 11

Chapter 11TID has entered an agreement with its crediters to push back any payment due until February 3rd. It is a way to protect the company against immediate credit obligations.

In a way this is a vote of confidence on the part ot its creditors, that the company is undergoing a restructuring which is expected to be successfull. Creditors are saying : "get your act together and pay us later"
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