Arcapita Gets 2 More Months To File Ch. 11 Plan

Law360, New York (October 9, 2012, 8:19 PM EDT) -- Arcapita Bank BSC(c) will get two more months to exclusively file a Chapter 11 plan after a New York bankruptcy judge overruled an objection to the debtor's motion Tuesday, saying Arcapita's case is sufficiently complex to require the extension.

U.S. Bankruptcy Judge Sean H. Lane granted the Bahraini investment bank's motion for a 60-day extension, until Dec. 14, of the exclusivity period for filing a plan after clarifying that a group of lenders' objection in fact still stood and then overruling it. The bank and its...
To view the full article, register now.