Bahraini investment house Arcapita’s move to file for bankruptcy protection in the United States, while a milestone for debt restructuring in the Gulf, is unlikely to prompt other regional firms to follow suit.
Arcapita became the first Gulf Arab firm to file for Chapter 11 in the US on Monday, under pressure from hedge funds which demanded full repayment ahead of the maturity of a $1.1 billion Islamic finance facility on March 28………………………………………..Full Article: Source