Bahrain Small and Medium Enterprises Development Society has called for urgent solution to the financially troubled companies that would protect them from going bankrupt.
The society warned that many businesses might close down an
Bahrain-based Arcapita is aiming to build a new asset management firm with a debut local deal in the logistics, education or healthcare sector as the company recovers from the first Chapter 11 bankruptcy process undertaken by a Gulf entity.
Arcapita, an international investment firm headquartered in Bahrain, said it has emerged from Chapter 11 reorganization proceedings in the United States.
Under the terms of the reorganization, “New” Arcapita (legally r
Bahrain-based Arcapita Bank, an international investment firm, has announced the filing of an amended consensual plan of reorganisation which seeks to "maximise recoveries to creditors and other stakeholders".
Privately-owned Bahraini investment house Arcapita is following in the footsteps of General Motors and Chrysler by filing for US Chapter 11 bankruptcy protection after non-bank creditors opposed extending a $1.1 billion loan facility due in March.
Bahrain investment house Arcapita became the first Gulf entity to file for Chapter 11 bankruptcy protection in the United States, after it was threatened with legal action if it did not repay a hedge fund in full, three sources told Reuters.
Bahrain investment house Arcapita has filed for Chapter 11 bankruptcy protection in the US after it was unable to reach a $1.1 billion debt deal with creditors, it said on Monday - a first for an indebted Gulf-based entity.
Eastman Kodak is preparing a Chapter 11 bankruptcy protection filing in case it is unable to sell its digital patents to raise capital, The Wall Street Journal reported on Wednesday.
The once-iconic photograp
General Motors Middle East has announced that it is not part of General Motors’ voluntary chapter 11 filing in the US to implement a ‘363’ sale agreement.
General Motors in the Middle East, which operates under General Motors Overseas Dist