Arcapita Bank Judge Greenlights Ch. 11 Plan

Posted by on Jun 13th, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Arcapita Bank on Tuesday secured a New York bankruptcy judge’s approval of Chapter 11 reorganization plan, allowing it to exit bankruptcy, pay off its creditors and turn over its assets to a new entity that will manage and dispose of them over time. Sixteen months after it entered bankruptcy, the Bahraini investment bank sailed through a confirmation hearing before U.S. Bankruptcy Judge Sean H. Lane with substantial support from creditors and shareholders.


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