Tuscany International Drilling Inc T.TID

My interpretation

[justsomeguytrading]

Forebearance - 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.

[StompinTom]

I have worked in the airline industry and watched Air Canada go in to CCAA several times.  Unlike going bankrupt, it essentially allows them to push off all its long term obligations for a period of time while not impacting the on-going operations of the company.  This type of restructuring is not as easy as some on this board think it is; it involves many different parties with many ups

[Popps]

Stompin Tom, your post is beyond excellent.   The poker risk analogy is spot on, meets my overall feeling exactly.   Like a few others here who have shown very calm, level-headed thinking since the trading halt, your real life example from your experience with the airline industry shows the upside to the current approach by TID management and creditors.  Seems like they are