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Arcapita Seeks More Time to Rally Support for Chapter 11 Plan

Thu, 2013-03-14 19:04 — newsdesk

Bahrain's Arcapita Bank is seeking more time under U.S. bankruptcy court protection as it continues talks with its creditors over the details of its plan to wind down its portfolio companies. In a filing Tuesday in New York, Arcapita's lawyers asked U.S. Bankruptcy Judge Sean Lane to approve an extension of its exclusive right to lobby creditors for support of its plan through July 7. The current solicitation period ends April 9.

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