Arcapita, Gas Storage Co. To Mediate $120M Deal Dispute

Law360, New York (August 1, 2012, 4:05 PM EDT) -- Bankrupt Arcapita Bank BSC(c) and Tide Natural Gas Storage I LP agreed Wednesday to mediate whether Tide can sue an Arcapita subsidiary for $120 million in fraud and breach of contract damages over a 2010 sale of a natural gas business.

U.S. Bankruptcy Judge Sean H. Lane asked the parties whether they thought it would be wisest to lift the automatic bankruptcy stay to allow the underlying dispute — in which Tide seeks to sue Arcapita and Falcon Gas Storage Co. Inc. over the 2010 sale...
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