Arcapita Files for Bankruptcy Protection as Debt Talks Fail
Arcapita Bank BSC categorized for bankruptcy in the U.S. after failing to reach an agreement with creditors. The bank and five affiliates chased Chapter 11 protection in U.S. Bankruptcy Court in Manhattan, listing assets of $3.06 billion and liabilities of $2.55 billion.
Arcapita was unsuccessful in reaching an agreement with creditors on a $1.1 billion syndicated shari’ah complaint loan due this month.
Syndicate
