RE:RE:RE:RE:Tuscany International Files Bankruptcy on Low Rig UseCompany listed assets and debt of as much as $500 million each in Chapter 11
......so Debt =$500m and Assets=$500m .... so we left with nothing ??? am i right ?
Chapter 11 :
If the business's debts exceed its assets, the bankruptcy restructuring results in the company's owners being left with nothing; instead, the owners' rights and interests are ended and the company's creditors are left with ownership of the newly reorganized company.