America’s First Shariah-Compliant Bankruptcy
In New York, Judge Sean Lane approved Arcapita Bank’s $175 million bankruptcy loan from Goldman Sachs to pull the bankrupt Shariah-compliant entity out of receivership… There is some debate as to whether the arrangement is actually Shariah-compliant, but Arcapita’s Shariah advisory board have declared the arrangement Shariah-compliant so that’s all it takes. (Talk about a […]
Arcapita, one of the most notorious Shariah-Compliant international conglomerates, with a major office in Atlanta, Georgia, is looking for money to it can complete a “Shariah-Compliant” bankruptcy, something that would be the first of its kind in the USA. Goldman Sachs Group Inc., which is already providing Arcapita $350 million in bankruptcy exit financing, is now seeking […]
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