Bankrupt Arcapita Bank Allowed To Pay Workers, Vendors

Law360, New York (May 7, 2012, 4:41 PM EDT) -- A New York bankruptcy judge granted Arcapita Bank BSC approval to pay its employees and vendors and continue its cash management systems on Monday, after the private equity-heavy Bahraini investment bank resolved disputes with its official committee of unsecured creditors.

The committee had argued that because Arcapita's business is mostly in the form of private equity ownership stakes in various portfolio companies, its bankruptcy is a different animal, and the decisions the bank and its creditors make will therefore primarily involve whether to hold or sell...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Arcapita Bank B.S.C.(C), et al.


Case Number

1:12-bk-11076

Court

New York Southern

Nature of Suit

Date Filed

March 19, 2012

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.