Arcapita Bank has asked US Bankruptcy Judge Sean H. Lane to approve its request for a $150 million debtor-in-possession financing package from Silver Point Finance. Arcapita said it had used up its cash reservers and needs the funding to assist its Chapter 11 exit.
Law360 reports that the Bahrain-based Islamic investment bank has requested authorisation to commit to a deal with Silver Point. Fees involved with the deal amount to $2.25 million………………………………………..Full Article: Source