RE:RE:RE:RE:RE:Tuscany International Drilling Inc. Announces Forbearance..They may have the cash but may decide to go under chapter 11 anyway in order to give themselves some room to play.
Not exactly the buy out scenario we were dreaming of , but TID's creditors are not pulling the plug anf the company is still operation normally, as is said in the PR. business continues, restructuring continues and improvements.
It's important to realise that some major companies did go under chapter 11 at some point in their history, and went on to be very successfull. Chapter 11 is a great tool to give companies some oxygene to gain a better footing.