RE:RE:RE:RE:Sort out the Garbadge!!!!!!!!The entire venture capital industry would be out of business without the protection of those laws. Common shareholders invest knowing that they are not systematically puting their heads on a log.
Once in a while, you hear an horror story about a company entering chapter 11 and not coming out of it alive, but how many other companies emerge sucessfully and stronger... a great number of them. I think that Tuscany is a good candidate for sucess under chapter 11.
Consider this :
1) Balance sheet is being cleaned up and will continue.
2) Drilling market is improving in Ecuador and Columbia. New opportunities are opening up
3) Tuscany's management has a lot of skin in this. They won't go against their own economic interests.
4) I am sure management AND creditors will put added pressure on clients to pay up.
4) Creditors are onboard.
5) Debt is not out of control and is covered by assets.
6) Judge will listen to management and creditors speaking with one voice and consider the best interest of common shareholders.
7) Everybody seems open to a buyout deal that would align everybody's interests
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