May 28, 2013
Arcapita Bank BSC on Monday asked a New York bankruptcy court to allow Goldman Sachs Group Inc. to provide the Bahraini bank with a $175 million bankruptcy loan to pay off a debtor-in-possession financing agreement with Fortress Investment Group LLC and provide Arcapita with much-needed liquidity.
May 20, 2013
Arcapita Bank BSC on Thursday contended that Tide Natural Gas Storage I LP's claims against the Bahraini bank's estate must be subordinated below all other creditor claims because of Tide's $515 million purchase of an Arcapita subsidiary's natural gas assets.
May 15, 2013
Goldman Sachs International on Wednesday outbid Fortress Investment Group LLC to provide exit financing to Arcapita Bank BSC worth up to $350 million, money that will allow the Bahraini bank to meet outstanding obligations and work its way out of bankruptcy.
May 14, 2013
Fortress Investment Group LLC on Monday objected to a $350 million bankruptcy exit loan proposed for Arcapita Bank BSC by Goldman Sachs International, arguing the Bahraini bank had passed over Fortress' offer of similar financing for the same amount on better terms.
April 26, 2013
A New York bankruptcy judge on Friday signed off on Arcapita Bank BSC's disclosure statement, allowing the Bahrain-based bank to begin gathering votes for its liquidation plan and ultimately exit Chapter 11 bankruptcy.
March 11, 2013
Tide Natural Gas Storage I LP, which paid $515 million for natural gas assets from a subsidiary of Bahrain's bankrupt Arcapita Bank BSC, asked a New York bankruptcy court Monday to appoint a trustee of the subsidiary's bankruptcy because of conflicts of interest.
February 08, 2013
Bahrain's bankrupt Arcapita Bank BSC, after negotiations with creditors, filed in New York bankruptcy court on Friday a proposed Chapter 11 reorganization plan that calls for a $185 million exit financing package, which the bank said will allow it to wind down its operations, sell off its assets and maximize recovery for creditors.
November 07, 2012
A New York bankruptcy judge granted Arcapita Bank BSC(c)'s request Wednesday for approval of a $125 million debtor-in-possession financing agreement with Fortress Investment Group, six weeks after the debtor first floated a similar package.
October 22, 2012
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.
October 19, 2012
Arcapita Bank BSC(c) is inching closer to reaching a $150 million post-petition financing agreement with Silver Point Finance LLC, telling a New York bankruptcy judge Friday that the parties would try to reach a consensus by a Tuesday hearing on the matter.