Arcapita Bank Judge Greenlights Ch. 11 Plan

Law360, New York (June 11, 2013, 4:11 PM EDT) -- Arcapita Bank BSC on Tuesday secured a New York bankruptcy judge’s approval of Chapter 11 reorganization plan, allowing it to exit bankruptcy, pay off its creditors and turn over its assets to a new entity that will manage and dispose of them over time.

Sixteen months after it entered bankruptcy, the Bahraini investment bank sailed through a confirmation hearing before U.S. Bankruptcy Judge Sean H. Lane with substantial support from creditors and shareholders.

Judge Lane said he was happy to approve what he described as a...
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

Companies

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.