Equity Holders Say Tuscany Mum On Ch 11 Sale Plan

Law360, Wilmington (March 17, 2014, 9:50 PM ET) -- The newly formed equity committee in the Tuscany International Drilling Inc. Chapter 11 contended in Delaware bankruptcy court Monday that it is being “stonewalled” by the debtor regarding information about the company's plan to sell its assets in a stalking horse auction.

In a teleconference before U.S. Bankruptcy Judge Kevin Gross, equity committee attorney Kerri K. Mumford of Landis Rath & Cobb LLP claimed that shareholders haven't received “a single piece of paper” regarding pre- or post-petition marketing of the oil and gas exploration firm's assets,...
To view the full article, register now.