Michael Rosenthal News
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Arcapita Bank BSC, an Islamic- compliant fund manager, can extend control of its bankruptcy, a judge said, overruling objections from lenders.
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Arcapita Bank BSC, a manager of Islamic-compliant investments with $7 billion under management, was forced into bankruptcy by hedge funds that sought to be repaid in full, a lawyer for Arcapita said.
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Arcapita Bank BSC, an Islamic- compliant fund manager overseeing about $7 billion in investments, won permission to use cash within a budget and pay employees in bankruptcy.
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Arcapita Bank BSC, a manager of Islamic-compliant investments with $7 billion under management, was forced into bankruptcy by hedge funds that sought to be repaid in full, a lawyer said.
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Goldman Sachs Group Inc. may be better off cutting its losses instead of fighting what it terms “unfounded” fraud claims, say professors of securities law who have examined the U.S. Securities and Exchange Commission’s lawsuit against the bank.
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Former Siemens AG management board member Thomas Ganswindt appeared in a Munich court on charges that he failed to halt bribes paid in Nigeria and Russia, the first senior executive to go on trial in the scandal.
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Arcapita Bank BSC, an Islamic- compliant fund manager overseeing about $7 billion in investments, won permission to pay employees and business partners after making changes to comply with the demands of creditors.
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