Mealey's Bankruptcy - Bankrupt Arcapita Seeks More Than $10.27M From Al Baraka Banking Group

Mealey's Bankruptcy - Bankrupt Arcapita Seeks More Than $10.27M From Al Baraka Banking Group

NEW YORK - Bankrupt Arcapita Bank BSC on May 30 filed an adversary proceeding in the U.S. Bankruptcy Court for the Southern District of New York against Al Baraka Banking Group BSC seeking to recover $10,273,616.40 it contends was fraudulently transferred prior to Arcapita's bankruptcy filing (Arcapita Bank BSC v. Al Barak Banking Group BSC [In Re: Arcapita Bank BSC], No. 12-11076, Chapter 11, S.D. N.Y. Bkcy.).

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