Cerita PDF

Arcapita Bank B.S.C.(c) (“Arcapita”) and its Debtor and non-Debtor pertaining to the Chapter 11 proceedings, information regarding the. Companies operating in the U.S. have several legal options for managing unsustainable levels of debt. One such option is Chapter 11 of the U.S. Bankruptcy. Arcapita (Photo credit: Wikipedia) Arcapita Bank emerged from Chapter 11, the company announced this morning, backed by a $ million.

Author: Vuran Meztirn
Country: Suriname
Language: English (Spanish)
Genre: Literature
Published (Last): 4 August 2012
Pages: 23
PDF File Size: 20.65 Mb
ePub File Size: 18.19 Mb
ISBN: 304-3-85304-375-6
Downloads: 5684
Price: Free* [*Free Regsitration Required]
Uploader: Shaktisar

Those businesses chappter liquidate their remaining assets to pay back creditors as much as possible. Very quickly, we had moved from a great bull market to an extremely operating challenging environment.

A verification email will be sent to your address before you can access your trial. The reorganization became effective today. Password at least 6 characters required Confirm Password.

Arcapita Creditors Seek $30M Clawbacks In Ch. 11 Pretrial Bid

Unfortunately for those foreign defendants, it may now be much more difficult to escape from those proceedings. The potential application of Bahraini law did not mandate abstention since the Court is competent to apply foreign law. With our debt now trading at a significant discount, hedge funds bought into our debt and believed that if they put enough pressure on us, we would repay the facility at par and they would make a significant short-term gain.

Password at least 6 characters required. We had significant overhead, with operations in four countries and nearly employees so our cash was suddenly being drained rapidly. By submitting this free subscription request for any of these products, you are also consenting to this communication. Debt is not forgiven through Chapter 11; the process simply establishes the new conditions under which it or at least a portion of it will be chaptef back to creditors with future cash flows.

Closing in on the resolution of competing motions for summary judgment, the official committee of unsecured creditors for Bahraini investment bank Arcapita are once again arguing that their claims against Bahrain Islamic Bank, also known as BisB, and Bahrain-based Tadhamon Capital BSC can be heard by U. It chaptter from bankruptcy protection a year later under a Chapter 11 plan that set the bank up with new operating companies and hundreds of millions in exit financing.


Make sure you don’t miss any Law breaking news. Given the use of the US correspondent bank accounts, the Defendants could not reasonably be surprised to be litigating in the US. Contact Arcapiita London Atlanta Singapore.

Bahrain’s Arcapita exits chapter 11, plans asset sales

None of Arcapita’s operating subsidiaries or portfolio companies are included in the filing. For a copy of the press release, click here. In support of its conclusion, the Court noted the following:. We occasionally allow arcapira companies outside of the company to mail details of products which may be of interest to you. The opinion underscores just how difficult it is to argue that claims should arcapit dismissed on international comity grounds or that sections of the Bankruptcy Code should not apply extraterritorially.

Leblanc and Nicholas A. Explore About Us Overview. Portfolio Investments Case Studies.

Arcapitaan investment firm headquartered in Bahrain, has chhapter from Chapter 11 reorganization proceedings in the United States. The defendants are represented by John A.

Immediate answers to most-asked questions Get the facts faster with our FAQ. During a series of hearings, the debtor proposes restructured terms with its creditors. Court approved the reorganization plan in June and Arcapita emerged from Chapter 11 three months later. Sign up now for free access to this content Enter your chaptter below and select your area s of interest to stay ahead of the curve and receive Law’s daily newsletters.

Any Holder who does not elect to exchange its Shares prior to the expiration of this deadline shall retain its Shares in Arcapita Bank and the Pro Rata Share of Transferring Shareholder Warrants to which such Holder would have been entitled shall expire and be cancelled without any further adcapita necessary to be taken by the Reorganized Debtors.


At the time of our emergence from Chapter 11, a creditor-owned entity called RA Holdings was created. Under the doctrine of international comity, nation states normally refrain from prescribing laws that govern activities connected with another state when the exercise of such jurisdiction is unreasonable.

One such option is Chapter 11 of the U.

Judge Cha;ter remarked at the time that the case was fascinating because it required those involved to coordinate U. Plan confirmed in Falcon Gas Storage Company.

Arcapita Creditors Seek $30M Clawbacks In Ch. 11 Pretrial Bid – Law

Arcapita, the international investment firm headquartered in Bahrain, has emerged from Chapter 11 reorganization proceedings in the United States. Select at least one primary interest: Bankruptcy Judge Sean H.

That process differs significantly from Chapter 7 bankruptcy, which is for companies that are not likely to remain going arxapita. As detailed in our Privacy Policy we will use your personal information to administer your account and provide the products and services that you have requested from us.

The goal was to create a new and improved firm. BaumanU. On the other hand, the Committee argued that international comity could not be invoked because there was no parallel foreign proceeding. The Notice of Effective Date occurred on September 17, Companies operating in the U. We use cookies on this site to enable your digital experience. The process starts when arcapiga company files for Chapter 11 protection with a federal bankruptcy court.