Arcapita Files Plan of Reorganization

MANAMA, Bahrain--()--Arcapita Bank B.S.C.(c), the international investment firm headquartered in Bahrain, announced today that it and its debtor affiliates, including Arcapita Investment Holdings Limited, have filed a proposed Joint Plan of Reorganization and related Disclosure Statement in their voluntary chapter 11 cases in the United States. The Plan of Reorganization represents the most effective way to implement a comprehensive restructuring of Arcapita and maximize recoveries to creditors and other stakeholders. A hearing on approval of the proposed Disclosure Statement is expected within the next 45 days, and, thereafter, the Plan of Reorganization will be submitted to creditors for a vote and presented to the US Court for confirmation. None of Arcapita’s portfolio companies are affected by this filing.

Atif A. Abdulmalik, Chief Executive Officer of Arcapita said, “During the exclusivity period provided by Chapter 11, we worked tirelessly with our advisors, our key creditors, including members of the Official Committee of Unsecured Creditors and of an ad hoc group of creditors, and their advisors to submit a Plan of Reorganization that maximizes recoveries from Arcapita’s assets. Based on extensive feedback from these creditors, the creditor distributions implemented by the Plan broadly reflect the economic splits agreed between the creditors. We are committed to confirming the plan and exiting Chapter 11 as quickly as possible.”

The provisions of Chapter 11 allow the filing companies to continue to operate their businesses and manage their properties under the direction and control of their Boards and management. Thus, until emergence, Arcapita’s management team will continue to conduct business in the ordinary course. Under the proposed Plan of Reorganization, Arcapita’s portfolio companies will continue to be managed by Arcapita’s deal professionals.

Arcapita’s Advisors are Gibson Dunn & Crutcher, Rothschild and Alvarez & Marsal.

About Arcapita

Headquartered in Bahrain with offices in Atlanta, London and Singapore, Arcapita’s four principal lines of business are private equity, real estate, infrastructure and venture capital. Further details on Arcapita can be found at www.arcapita.com.

Contacts

FTI Consulting
Hugh Barker, +971 (0) 50 248 7620
or
Arcapita Bank B.S.C.(c)
Tariq Hayat, +973 39 46 1103

Contacts

FTI Consulting
Hugh Barker, +971 (0) 50 248 7620
or
Arcapita Bank B.S.C.(c)
Tariq Hayat, +973 39 46 1103