Arcapita, Standard Chartered Reach Deal Over $100M Financing

Law360, New York (October 22, 2012, 6:06 PM EDT) -- A New York bankruptcy judge approved a settlement Friday between Arcapita Bank BSC(c) and Standard Chartered Bank over $100 million in financing Standard Chartered issued before Arcapita's bankruptcy filing, with the debtor set to repay Standard Chartered.

U.S. Bankruptcy Judge Sean H. Lane approved the settlement among Arcapita, its official committee of unsecured creditors, Standard Chartered and the joint provisional liquidators of debtor subsidiary Arcapita Investment Holdings Ltd. Under the settlement agreement, Standard Chartered will get an administrative claim against AIHL and other debtors in an...
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