Bahrain's Awal Bank Seeks Ch. 11 Protection

Law360, New York (October 22, 2010, 3:22 PM EDT) -- Bahraini investment bank Awal Bank BSC has filed a Chapter 11 bankruptcy petition in New York, though the bank has been under Chapter 15 protection for more than a year.

The petition was filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York by David Molton of Brown Rudnick LLP, which represents London-based Charles Russell LLP, Awal's external administrator.

Representatives for Awal didn't immediately respond to requests for comment Friday.

Awal indicated in its voluntary petition that it had between 50 and...
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