Tuscany Drilling Slammed Over Ch. 11 Strategy

Law360, Wilmington (February 26, 2014, 9:45 PM EST) -- Tuscany International Drilling Inc. was hit with criticism on two fronts Wednesday in its Delaware Chapter 11 proceeding, with the U.S. trustee’s office blasting a request to waive notice requirements for some South American creditors, while equity holders took issue with the case's proposed speed.

U.S. Trustee Roberta A. DeAngelis filed an objection to the Calgary, Alberta-based oil and gas exploration firm's waiver request, which the bankruptcy watchdog says would allow Tuscany to pay certain South American creditors at its discretion while not being required to...
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