Arcapita Gets OK For $125M DIP Loan From Fortress

Law360, New York (November 7, 2012, 5:55 PM EST) -- A New York bankruptcy judge granted Arcapita Bank BSC(c)'s request Wednesday for approval of a $125 million debtor-in-possession financing agreement with Fortress Investment Group, six weeks after the debtor first floated a similar package.

U.S. Bankruptcy Judge Sean H. Lane, ousted from his normal courthouse in Manhattan by Hurricane Sandy and currently sitting in a White Plains, N.Y., courtroom, approved the deal after a two-hour delay during which the parties worked out differences over the amount of the DIP package.

The Bahraini investment bank had originally...
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