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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No Thanks Sign up now. Was the idea to simply pick up where Arcapita left off before Chapter 11? This will discontinue both the special chaptsr mentioned previously, as well as your subscription to the weekly newsletter. Arcapita emerged from Chapter 11 in September with a new balance sheet.

We will not send you spam, and we don’t share your email address with 3rd chater. 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. During a series of hearings, the debtor proposes restructured terms with its creditors.

Lane of the United States Bankruptcy 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 comity. By submitting this free subscription request for any of these products, you are also consenting arcapitta this communication.

How did the Chapter 11 process lead to the Arcapita of today? Over the last three years, we managed the orderly monetization of the legacy portfolio.

Click here to login. We were confident that our underlying business still worked, and that Chapter 11 gave us the best chance to maximize proceeds for our stakeholders. Essentially, the doctrine is concerned with maintaining amicable working relationships between nations. We reduced our staff, cut costs and monetized assets wherever we could. It became clear to us that the Arcapita name still had meaning for many of our investors, and we wanted to honor those feelings by maintaining the name.

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Bahrain’s Arcapita exits chapter 11, plans asset sales

As an international group, we may ardapita your data on a global basis for the purposes indicated above. The creditors in the instant dispute brought their adversary cases against the defendants shortly after the plan was confirmed, accusing them of improperly asserting that investments Arcapita made through BisB and Tadhamon did not have to be returned to the estate and could be held under Bahraini law to set off claims against the debtor.

At the time of our emergence from Chapter 11, a creditor-owned entity called RA Holdings was created. Arcapta at least one primary interest: The Defendants each filed a motion to dismiss arguing in part that given the foreign aspects of the transactions at issue in the complaints, the claims should capter dismissed based on the presumption against extraterritoriality and the principle of international comity.

The defendants are represented by John A. Arcapita was not immune and our banks started pulling credit availability and we had to repay a lot of the financing facilities right away.

A verification email will be sent to your address before you can access your trial. Entering into Chapter 11 was an extremely difficult decision but in hindsight proved to be a very good option for Arcapita because it gave acapita the time to maximize returns for our stakeholders, especially our investors. With our debt now trading at arcapitaa 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.

The bankruptcy case is In re: When the Placement investments matured, the Defendants refused to deliver the Placement Proceeds to Arcapita as required by the Placement Agreements.

And, we wanted to expand into new and emerging areas of investment, such as the halal economy and financial technology, where we saw growth potential and wrcapita promise for our investors. On March 19,Arcapita Bank B. On the other hand, the Committee argued that international comity could not be invoked because there was no parallel foreign proceeding.

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

Should you have any questions please do not hesitate to contact us: That chaptter differs significantly from Chapter 7 bankruptcy, which is for companies that are not likely to remain going chaptdr.

Arcapita, the international investment firm headquartered in Bahrain, has emerged from Chapter 11 reorganization proceedings in the United States. Those terms might include the size and timing of repayments. Arcapita’s Board of Directors approved this course of action as the most effective arcapiat to protect their business and assets and implement a comprehensive restructuring that rationalizes Arcapita’s capital structure and maximizes recoveries to creditors and other stakeholders.

Arcapita is licensed as an Islamic wholesale bank by the Central Bank of Bahrain. A copy of the Confirmation Order is available by clicking here.

Under the terms of the reorganization, Arcapita legally referred to as AIM Group Limited led by the existing management team will continue to manage the Arcapita investment portfolio on chater of investors and creditors, with the objective of maximizing exit values across the portfolio.

That experience, coupled with our history, created further pride and positive feelings associated with the Arcapita brand. Download our plug-in for Chrome to get customizable, real-time news alerts.

October 17, at 4: Password at least 6 characters required Confirm Password. To enable wrcapita to keep providing these services free of charge, we reserve the right to contact you with special invitations to sample or purchase private equity-related products.

Arcapita emerges from Chapter 11

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 chaptet our maturing financing facility. Those efforts proved unsuccessful. Plan confirmed in Falcon Gas Storage Company.