Tuscany Drilling Hits Ch. 11, Seeks Sale To Lenders

Law360, Wilmington (February 3, 2014, 6:01 PM EST) -- Tuscany International Drilling Inc. sought protection in Delaware bankruptcy court Sunday as the Canadian oilfield services company looks to sell the bulk of its assets to lenders owed approximately $200 million.

Calgary, Alberta-based Tuscany — a provider of onshore drilling and support services to companies involved in oil and gas exploration, development and production — listed assets and liabilities of between $100 million and $500 million on its petition.

Joined in bankruptcy by Houston-based subsidiary Tuscany International Holdings (USA) Ltd.,  the company intends to sell transfer...
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