Arcapita Reorganization Plan Relies On $185 Million To Wind Down Operations

NEW YORK - Bankrupt Arcapita Bank BSC, a Bahrainian entity, on Feb. 8 filed its plan of reorganization in its Chapter 11 bankruptcy proceeding that calls for $185 million in exit financing that conforms with Shariah Law, which is required because the bank is headquartered in an Islamic country (In Re: Arcapita Bank BSC, No. 12-11076, Chapter 11, S.D. N.Y. Bkcy.).Full story on lexis.com