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Arcapita seeks US bankruptcy protectionBahrain 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. More… |
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US court backs Awal BankA US court has denied a motion from HSBC USA to have Bahrain-based Awal Bank removed from US Chapter 11 bankruptcy protection. The US Bankruptcy Court for the Southern District of New York also ruled that Awal would be allowed to continue More… |
