RE:RE:Tuscany Drilling Slammed Over Ch. 11 Strategy (Full)
Interesting point. I'd be cautious about mentioning money laundering, secret airport elevators, etc. Let's not allege the spicier parts of spy fiction. Not when there are so many simpler, older, more reliable methods at hand. Stopping up revenue to fatten accounts receivable, then administratively turning that into bad debt is a favorite. This money sits out there as a probable windfall for Newco? Wow. Old trick. Value of the company's assets suddenly takes a huge dip compared to what it was last month and compared to industry norm? Bad luck. Unless it pops right up again when lender sells the rigs, or they start to generate normal value again once they start working for Newco. Again, old trick. And the M&P deal. Selling rigs to the firm from which they were purchased for three bucks and a handful of stock which was worthless a month later. Nah, no one would transfer significant assets off the books less than a month before seeking Chapter 11. Certainly not to the same firm from which they were purchased for many times that value just a short time before. Never happen. Except here, yeah, but in general that's a trick too old and obvious even to be considered. Newco employs the entire slate of executives from the failed company and grants compensations to ease the pain of any stock losses from the prior company. Again, old, boring trick.
So, no, no need for spy fiction. Just boring old tricks, not a new plot that would hold a reader's attention.