Gas Co. Wants $120M Claim Ahead Of Arcapita Unit Investors'
By Eric Hornbeck
Law360, New York (May 30, 2013, 2:33 PM EDT) -- Tide Natural Gas Storage I LP urged a New York bankruptcy court Wednesday to subordinate the claims of former shareholders of bankrupt Arcapita Bank BSC affiliate Falcon Gas Storage Co. Inc. beneath its own $120 million claim, because theirs come from the sale of a Falcon subsidiary.
The so-called Hopper claimants, more than a dozen former Falcon shareholders, had each filed an $8.25 million claim for their portions of a $70 million escrow account that was part of a settlement over the sale of a Falcon...