RE:RE:RE:Thanks Pennywise. Yes im thinking they will sell privatlyI don't think the Bankruptcy judge has to take any account of the interests of the shareholders. The debtor is Bankrupt, it has failed to meet its obligations and thus the creditors have the right to foreclose on their security. The judge is there to see that process carried out in an orderly fashion with the rights of the various classes of creditors protected vis a vis one another.
The only way a surplus could be returned to shareholders is if the assets sell for more than the debt. Unfortunately unless there's a bidding war, which is unlikely, I don't see that happening.
The best outcome would be for a stronger player to come in and buy Tuscany with stock. You might have to hold your nose to swallow the terms but at least there would be some upside.
But if CS and the other lenders are going to short circuit that possibility then they are going to reap the upside when they pretty up the business and sell it. Shareholders will see nothing, just shares in a shell company.