Arcapita Bank on Friday said it is slowly moving closer to securing $150m in bankruptcy financing from Silver Point Capital but held off asking for court approval to pay Silver Point a fee that would move that loan forward.

Arcapita said Silver Point made changes to the financing proposal early Friday morning that may satisfy the concerns of the judge and the creditors, who opposed the loan in court last week because of the amount of fees it would earn Silver Point and the power it would give Silver Point in Arcapita's bankruptcy case.