Arcapita Has Interim Approval for Fortress Financing
Arcapita Bank BSC, a Bahrainian investment bank reorganizing in New York, received interim approval from the bankruptcy court on Dec. 7 to borrow $25 million from a $150 million loan provided by Fortress Credit Corp.
There will be a final hearing on Dec. 18 for approval of the remainder of the loan. The loan will comply with Islamic Shariah financing regulations.
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