Published on: Monday, March 24, 2014

Mealey’s Bankruptcy – Bankruptcy Judge OKs $70M In Loans For Oil Drilling Company Tuscany International

WILMINGTON, Del. – The federal bankruptcy judge presiding over the Chapter 11 proceeding of Tuscany International Holdings (USA) Ltd. (TIH) on March 21 approved the company’s request for $70 million in post-petition financing, also called debtor-in-possession (DIP) financing (In Re: Tuscany International Holdings [USA] Ltd., No. 14-10193, Chapter 11, D. Del. Bkcy.).