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Bahrain-based Arcapita Bank has gained court approval for a $125 million bankruptcy loan from Fortress Investment Group, believed to be the first such loan consistent with sharia, Islamic law.
The loan, approved by Judge Sean Lane in US Bankruptcy Court in White Plains, New York, will fund Arcapita as it tries to restructure debt after filing for bankruptcy in March………………………………………..Full Article: Source
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Arcapita secures sharia-compliant bankruptcy loan
| Posted on 09 November 2012 |
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