Arcapita Bank Files For Bankruptcy | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.02.25

Airborne-NextGen-06.03.25

AirborneUnlimited-06.04.25

Airborne-AffordableFlyers-06.05.25

AirborneUnlimited-06.06.25

Mon, Mar 19, 2012

Arcapita Bank Files For Bankruptcy

Former Cirrus Investor Seeking Protection From Creditors

Bahrain-based Arcapita Bank, which at one time owned the lion's share of Cirrus Design, has filed for Chapter 11 bankruptcy protection in a U.S. court.

The company had acquired a 58 percent stake in Cirrus in 2001 when it was Crescent Capital, the U.S. division of the First Islamic Investment Bank of Bahrain. It held its portion of the company until Cirrus was sold to CAIGA in 2011.

The Washington Post reports that Arcapita still holds interests in several companies in the U.S., such as women's apparel retailer J. Jill, and the transportable storage company PODS. It also owns the British rail company Freightliner. It lists Cirrus Design as a "Past Investment" with an exit date of June 2011.

In all, Arcapita manages about $7.4 billion in investments worldwide. The company said its subsidiaries will continue to operate normally as it works through its reorganization.

FMI: www.arcapita.com

Advertisement

More News

ANN's Daily Aero-Term (06.02.25): Minimum Friction Level

Minimum Friction Level The friction level specified in AC 150/5320-12, Measurement, Construction, and Maintenance of Skid Resistant Airport Pavement Surfaces, that represents the m>[...]

ANN's Daily Aero-Linx (06.02.25)

Aero Linx: Airpower Museum The APM owns 30 acres on Antique Airfield, including the south half of the N-S runway. It consists of three hangars, an annex, and a library. The museum >[...]

NTSB Prelim: Champion 7ECA

Patient Told The First Responders That The “Man Who Was In The Plane Was Flying At The Time Of The Accident And Had Overshot The Runway They Were Attempting To Land On.&rdquo>[...]

Classic Klyde Morris (From 06.10.22)

Klyde Just Can't Believe This Has Gotten To This Point... FMI: www.klydemorris.com>[...]

Airborne 05.30.25: Anti-Helicopter Bill, PW Strike Done, All-Electric Bristell

Also: Duffy Wants $$$, KS Airports, Morningside U’s Aviation School, New Airstrip In ID After 6 were killed in a helicopter crash over the Hudson River, several US Representa>[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne Affordable Flyers 06.05.25: New RV15 Wing, Scalebirds, Waiex-B Honors

Airborne 06.04.25: G100UL Legal Decision, FAA v Starship, Laser Conviction

Airborne 06.02.25: Isaacman UN-Nomination, 28K' Paraglider Flt, Williams Builds

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC