Mealey's Bankruptcy - Tuscany International Files For Chapter 11 Bankruptcy, Seeks $70M Financing Deal

Mealey's Bankruptcy - Tuscany International Files For Chapter 11 Bankruptcy, Seeks $70M Financing Deal

WILMINGTON, Del. - Oil and gas drilling company Tuscany International Holdings (USA) Ltd. (TIH) on Feb. 2 filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware and sought a total of $70 million in post-petition financing, consisting of $35 million in debtor-in-possession (DIP) financing and $35 million in what is referred to as a "roll up of pre-petition debt" (In Re: Tuscany International Holdings $(USA$) Ltd., No. 14-10193, Chapter 11, D. Del. Bkcy.).

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