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Tuscany International Drilling Inc T.TID



TSX:TID - Post by User

Post by justsomeguytradingon Jan 25, 2014 12:02pm
284 Views
Post# 22133767

My interpretation

My interpretationForebearance - good - creditors are delaying a liquidation sale. If they feel they will realize more return on their loans then stall the default.

DIP - good - TID still owns the assets even under a Ch. 11 filing

I still believe that CS would have pushed them into bankruptcy if they felt the asset base was going to continue to erode. 

The forebearance period gives Walter and Co. An opportunity to meet their debt obligations. 

Jmho

might be time for another coffee & baileys. 
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