Bahrian’s Arcapita bank has thrown creditors a bit of a curve ball. The bank has decided to file for bankruptcy protection in the US after talks over an upcoming bank maturity of $1.1bn on March 28 broke down.
It’s the first time a Gulf company has sought Chapter 11 refuge in US courts, and creates a new level of public scrutiny for the bank – as well as an uncertain outcome for those wanting their money back.
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