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Sunday, August 10, 2014

Hearing To Be Held In New York On September 30, 2014 Re Concerns Over Arcapita Bank's Financial Condition

For more detail, please see excerpts from the Notice of Scheduling of Hearing reproduced below.

Update: The hearing was originally scheduled to take place in New York City on September 9,  2014, and has been rescheduled to September 30, 2014 at 11 a.m.



UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
---------------------------------------------------------------x
                                                                             
IN RE:                                                                               Chapter 11
                                                                              
ARCAPITA BANK B.S.C.(c), et al.,                               Case No. 12-11076 (SHL)
                                                                              
Debtors.                                                                 
---------------------------------------------------------------x

NOTICE OF SCHEDULING OF HEARING

          PLEASE TAKE NOTICE that the United States Bankruptcy Court for the Southern District of New York has scheduled the following hearing date and time for certain matters in the Chapter 11 cases of Arcapita Bank B.S.C.(c) et al., including the Objection of Captain Hani Alsohaibi to the Proposed Diversion of Funds by and for the Benefit of the First Islamic Investment Bank B.S.C.(c)/Arcapita Bank B.S.C.(c) Affiliates and Successors and Reservation of Rights and Request for Hearing Concerning the Administrative Solvency/Insolvency of the First Islamic Investment Bank B.S.C.(c) Affiliates and Successors (the “Objection”) [Bankruptcy Court Docket No. 1979]:
September 9, 2014 at 11:00 a.m. (prevailing U.S. Eastern Time).
PLEASE TAKE FURTHER NOTICE that among the relief requested in the Objection is that Arcapita be ordered to take down the website www.arcapita.com because the statements made there that are attributed to Atif A. Abdulmalik confuse investors; they facilitate the mistaken impression that Arcapita restructured successfully when, in fact, it emerged from Chapter 11 with a plan solely designed to facilitate the orderly liquidation of its assets. 
PLEASE TAKE FURTHER NOTICE that the hearing will be held in Courtroom 701, United States Bankruptcy Court, Alexander Hamilton U.S. Custom House, One Bowling Green, New York, New York 10004 unless otherwise ordered by the Court.

Dated: New York, New York
            August 8, 2014


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