Gas Co. Wants $120M Claim Ahead Of Arcapita Unit Investors'

Law360, New York (May 30, 2013, 2:33 PM EDT) -- Tide Natural Gas Storage I LP urged a New York bankruptcy court Wednesday to subordinate the claims of former shareholders of bankrupt Arcapita Bank BSC affiliate Falcon Gas Storage Co. Inc. beneath its own $120 million claim, because theirs come from the sale of a Falcon subsidiary.

The so-called Hopper claimants, more than a dozen former Falcon shareholders, had each filed an $8.25 million claim for their portions of a $70 million escrow account that was part of a settlement over the sale of a Falcon...
To view the full article, register now.




Case Information

Case Title

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

Case Number



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.