October 09, 2012
Arcapita Bank BSC(c) will get two more months to exclusively file a Chapter 11 plan after a New York bankruptcy judge overruled an objection to the debtor's motion Tuesday, saying Arcapita's case is sufficiently complex to require the extension.
October 04, 2012
Arcapita Bank BSC(c) defended its request for more time to file a Chapter 11 plan Thursday, saying a group of lenders mischaracterized the case as less complex than it is and promoted the "irrational conclusion" that the debtor's plan is almost ready.
September 26, 2012
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.
September 19, 2012
Arcapita Bank BSC(c) asked a New York bankruptcy judge Wednesday for permission to implement a settlement with six senior managers connected with money owed under prepetition incentive plans, under which participants would agree to forfeit substantial amounts of unsecured claims against the estate.
August 16, 2012
A New York bankruptcy judge granted Arcapita Bank BSC(c) permission Thursday to launch an initial public offering of its European warehousing assets following resolution of unsecured lender Standard Chartered PLC's concerns that the plan was unclear on how its interests would be protected.
August 01, 2012
Bankrupt Arcapita Bank BSC(c) and Tide Natural Gas Storage I LP agreed Wednesday to mediate whether Tide can sue an Arcapita subsidiary for $120 million in fraud and breach of contract damages over a 2010 sale of a natural gas business.
July 31, 2012
Arcapita Bank BSC(c) is ready to argue before a New York bankruptcy judge Wednesday over an automatic stay that bars Tide Natural Gas Storage I LP from pursuing $120 million in fraud and breach of contract damages against a natural gas subsidiary.
June 26, 2012
A New York bankruptcy judge on Tuesday approved a bid by Arcapita Bank BSC to implement a program under which it will terminate some employees, give incentives to others and settle claims with employees over certain prepetition compensation promises it made.
May 07, 2012
A New York bankruptcy judge granted Arcapita Bank BSC approval to pay its employees and vendors and continue its cash management systems on Monday, after the private equity-heavy Bahraini investment bank resolved disputes with its official committee of unsecured creditors.