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Wednesday, April 1, 2015

Bahraini Bank Units File for U.S. Bankruptcy Protection

Per www.wsj.com:


A group of investment vehicles owned by a Bahraini bank are seeking U.S. bankruptcy protection to shield more than $200 million from Saudi Arabia’s Ahmad Hamad Algosaibi & Bros.
Awal Finance Co., a subsidiary of Bahrain’s Awal Bank BSC, and a half dozen special purpose vehicles on Thursday filed for protection in U.S. Bankruptcy Court in New York under Chapter 15—the section of the bankruptcy code that deals with international insolvencies.
For more, see: http://www.wsj.com/articles/bahraini-bank-units-file-for-u-s-bankruptcy-protection-1426888598

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