Arcapita Bank has lined up a new $100m bankruptcy loan from Fortress Investment Group that it says is compliant with Islamic Sharia law and wants approval to move forward with that loan quickly.

The loan from Fortress is for $50m less than one Arcapita originally wanted from Silver Point Capital, although it can be increased to the same $150m amount, the company said in a Thursday filing with US Bankruptcy Court in Manhattan.

Arcapita lines up $100m bankruptcy loan from Fortress

The company's loan is less than the one it previously sought from Silver Point Capital but could be increased

Dow Jones Newswires

Fortress Investment Group

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