Bankrupt Arcapita Floats Settlement With 6 Senior Managers

Law360, New York (September 19, 2012, 5:38 PM EDT) -- Arcapita Bank BSC(c) asked a New York bankruptcy judge Wednesday for permission to implement a settlement with six senior managers connected with money owed under prepetition incentive plans, under which participants would agree to forfeit substantial amounts of unsecured claims against the estate.

The request is a bid to resolve matters with the managers, who were not party to a previous settlement of outstanding employee obligations related to the equity incentive programs or key employee incentive and retention programs that were approved by the court....
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