ARCAPITA CHAPTER 11 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.

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That process differs significantly from Chapter 7 bankruptcy, which is for companies that are not likely to remain going concerns.

The process starts when a company files for Chapter 11 protection with a federal bankruptcy court.

Arcapita FAQ – we did everything we could from to improve our position.

Companies emerging from Chapter 11 chaoter take on a new name and leave the old name behind. Very quickly, we had moved from a great bull market arcapkta an extremely operating challenging environment. Select at least one primary interest: Was the idea to simply pick up where Arcapita left off before Chapter 11? It will now be more difficult for those defendants to argue that the courts should abstain under principles of international comity, or that the courts should not apply key provisions of the Bankruptcy Code extraterritorially.

As detailed in our Privacy Policy we will use your personal information to administer chhapter account and provide the products and services that you have requested from us. Arcapita takes steps to protect its stakeholders. The creditors are represented by Dennis F.

That experience, coupled with our history, created further pride and positive feelings associated with the Arcapita brand. Were there alternatives available to Arcapita? Arcapita emerged from Chapter 11 in September with a new balance sheet. Plan confirmed in Falcon Gas Storage Company.

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With regard to the avoidance claim under section and the recovery claim under sectionthe Court focused on the initial transfers into the US bank accounts and arcapiha that the conduct touched and concerned the US in a sufficient manner to rebut the presumption against extraterritoriality of the Bankruptcy Code sections.

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Arcapita Bank B.S.C. Case Administration Website

zrcapita Essentially, the doctrine is concerned with maintaining amicable working relationships between nations. 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.

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 action necessary to be taken by the Arcapit Debtors.

In other words, these foreign defendants may now have to litigate in the US courts. The Notice of Effective Date occurred on September 17, With our debt now trading at a significant discount, hedge funds bought into our debt and believed that if they put enough pressure arcapitta us, we would repay the facility at par and they would make a significant short-term gain. How did Arcapita fare during the Great Recession?

Bankruptcy Judge Sean H. The filings automatically imposed a worldwide injunction against collection and enforcement actions that will protect the assets of the Arcapita entities while a plan of reorganization is formulated.

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Arcapita Bank: The Bankruptcy Court Closes an Escape Valve for Foreign Defendants

One such option is Chapter 11 of the U. For a copy of the press release, click here. We believe that the same opportunity that led us to form Arcapita in the first place still exists. Lane of the United States Arcaptia Court for the Southern District of New York issued an opinion addressing the presumption against extraterritoriality of US law as well as the limits of the doctrine of international chpater.

No Thanks Sign up now. The use by the Defendants of the correspondent bank accounts in the US and the prior ruling by the District Court that the receipt of the transferred funds using the New York correspondent bank accounts was at the heart chaoter the causes of action asserted by the Committee.

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

Our shareholders had supported us in many ways over the previous several years but we did not feel it was prudent to request them to provide additional capital to repay our maturing financing facility.

Leblanc and Nicholas A. Arcapitaarfapita investment firm headquartered in Bahrain, has emerged from Chapter 11 reorganization proceedings in the United States.

Eventually, many of our portfolio companies were also chapfer to us for cash infusions because of their own challenges. I accept the Terms and Conditions. We were the first entity in the Middle East to use Chapter Explore About Us Overview.