Arcapita Seeks Green Light On $150M DIP Package

Law360, New York (September 26, 2012, 3:33 PM EDT) -- Arcapita Bank BSC(c) asked a New York bankruptcy judge Wednesday to approve its request for a $150 million debtor-in-possession financing package from Silver Point Finance LLC, saying it's gone through its cash reserves and needs the money to fund its Chapter 11 exit.

The Bahraini investment bank asked U.S. Bankruptcy Judge Sean H. Lane to authorize it to enter into a post-petition commitment letter with Silver Point, its first such request in the case. Until now, Arcapita and its affiliated debtors have been operating in Chapter...
To view the full article, register now.

Documents

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

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.