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...
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

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.