Showing posts with label Arcapita Bank. Show all posts
Showing posts with label Arcapita Bank. Show all posts

Monday, March 19, 2012

Church Street Health Management–Small Smiles Dental, now Arcaptia Bank files for Chapter 11 Bankruptcy…Ahhh….Maaaan,

I’m broken hearted, probably won’t sleep for weeks worrying about how many virgins await these assholes in bankruptcy court hell. Evidently physically and emotionally abusing and traumatizing children isn’t as profitable as Arcapita was told, I don’t reckon. First Islamic Bank, Arcapita, it doesn’t really matter what they name the company, crime just doesn’t pay. ACAS, next? According to the “chatter” in the court room last Thursday in Nashville, ACAS holds “Senior” debt of this boondoggle. (oops, I used that word, “chatter” again.  They don’t like that word…  lol..dangit, if they would quit chatting, there wouldn’t be so much “chatter” now would there!!  Just saying…  Sheila, think about it… think of all the times you’ve been out and about talking this crap…you just never know who is listening!)

imageMan, this filing should be interesting!! Sharia Law; Virgins; Allah; Jihad – no telling what all will be listed.  LOL

The Smile Behind Small Smiles
Atif A. Abdulmalik


Arcapita’s Chapter 11 Petition

Arcapita Files for Bankruptcy Protection as Debt Talks Fail

By Arif Sharif and Tiffany Kary - Mar 19, 2012 10:48 AM CT Mon Mar 19 15:48:28 GMT 2012

image                                           Arcapita Bank BSC, the owner of Irish power utility Viridian Group Ltd., filed for bankruptcy in the U.S. after failing to reach an agreement with creditors on a $1.1 billion loan due this month.

Arcapita, formerly known as First Islamic Investment Bank, and five affiliates sought Chapter 11 protection today in U.S. Bankruptcy Court in Manhattan, listing more than $1 billion in both debts and assets. Arcapita’s board approved the process “to protect their business and assets and implement a comprehensive restructuring,” the Manama, Bahrain-based private-equity firm said in an e-mailed statement today.

The bankruptcy filing is a “logical step by the company to protect its foreign investments and from individual creditors going after the company’s assets in Europe, the U.S. and Asia,” Serge Lioutyi, a London-based distressed debt trader at Citigroup Global Markets Ltd. said in an e-mail today. It “will help the company focus on reaching a consensual agreement with creditors rather than worrying about individual claims.”

Arcapita is among companies in Bahrain that have sought protection to restructure liabilities after the global credit crisis cut their access to the debt market and as asset prices declined. Awal Bank BSC, a Bahrain-based wholesale bank, filed for Chapter 11 in October 2010, while Gulf Finance House BSC reached an agreement with a group of banks led by WestLB AG on a new two-year $100 million Islamic loan.

Failed Refinancing

The costs to insure Bahrain’s debt against default fell two basis imagepoints to 365 today, according to credit default swap data from CMA, which is owned by CME Group Inc. and compiles prices quoted by dealers in the privately negotiated market.

 

Tuesday, March 06, 2012

The sharia-compliant group, Arcapita Bank, who is heavily invested in Small Smiles Dental Centers, is facing $1bn toothache.

Last updated: February 27, 2012 8:31 am

Bahrain’s Arcapita faces debt challenge
By Simeon Kerr in Dubai and Camilla Hall in Abu Dhabi

Bahrain-based private equity investor Arcapita Bank is facing a potentially painful debt workout as it mandates advisers ahead of the March deadline for the Manama-based group to repay $1.1bn of loans.

Privately-held Arcapita, which declined to comment, owns a broad portfolio of companies in the US and Europe, including UK rail cargo company Freightliner, Irish utilities group Viridian and US women’s apparel retailer J Jill.

Read more about Arcapita’s troubls here

Sunday, January 09, 2011

Church Street Health Management–From Arcapita's Website

www.arcapita.com 2011-1-9 18-8

 

I know I'm not the only one to notice, nobody says they "own" the clinics anymore. 

I've made a complete copy of their blog accessdentistry.blogspot.com.  There is not one word there that says anyone owns any clinic.  Everyone is always a "lead dentist".  Well, until it comes to the income, then FORBA wants to claim that, or the lawsuits, then those lead dentists suddenly become owners.  Cracks me up sometimes. 

Even in the local news video they posted, no own is introduced as "owner" of the Small Smiles clinic here in "fill in the name of the city".

All these Small Smiles dental clinics are either "affiliated with" or "associated with" Arcapita or Church Street Health Management, aka FORBA.

I'm sure they all hate the fact those initial press releases when Arcapita "purchased" these clinics were wiped off the web, sorry guys.

I get what they are thinking, they don't want their name on documents like this.

As you can see, and everyone working for Small Smiles and Church Street Health Management should take note of, everyone will be named in lawsuits. 

OK-ClassAction

The cost of hiring an law firm to initially take the case will be very expensive.  Responsible or not, you've been named in a lawsuit.  Everything for you changes at that point.  And I mean everything! 

Think your family won't be effected, wrong.  Think your kids won't be effected?  Wrong.

Try going out on your own with a pending lawsuit hanging over your head.  Try doing much of anything with this kind of lawsuit hanging over your head. 

I hope everyone is looking over what kind of documents you've signed. 

Church Street Health Management (CSHM) is not going to protect you from the above.  They are hanging  you out to dry, in the end, you will be in this all alone. 

Everyone will need their own attorney.  Don't be stupid and think FORBA aka Church Street Health Management (CSMH) and their vast number of law firms and attorneys are going to protect you.  Look out for yourself.

If you work for Small Smiles and Church Street Health Management, I would think you can expect to see your name on one of these someday in the future.   

For those at other dental mills, be taking notes. 

Boo!  Run! 

Monday, April 28, 2008

The Smile Behind Small Smiles-Atif Abdulmalik


This is "what's his name" when I first started reporting about Small Smiles as was listed on Arcapita's website.







This is "what's his name" as shown on Arcaptia's website now.






Wonder if this dude's got any kids he would like to take to Small Smiles for some Dental Care?

Here is the press release where Arcapita admits it's in with "existing management"

1-15-2007


ARCAPITA COMPLETES LARGEST US CORPORATE TRANSACTION
MANAMA (January 15, 2007) - Arcapita Bank B.S.C.(c), a leading international investment firm headquartered in Bahrain, announced today that it and its affiliates, together with existing management, have acquired Sanus Holdings, LLC, operating as FORBA, a leading dental practice management company that focuses on providing dental care to underprivileged children in the United States.
Headquartered in Tennessee, FORBA manages the operations of 50 dental clinics across the United States, targeted exclusively at serving the needs of children eligible for dental care benefits under Medicaid and the State Children’s Health Insurance Plan (SCHIP), which between them provide comprehensive healthcare for over 32 million children. FORBA’s innovative business model, delivering centralized buying, economies of scale and operational efficiencies, has allowed the company to build a dominant position in its market, and according to management, during 2006 FORBA had 3 times more patient visits than its nearest competitor. FORBA’s projected revenues for 2006 are $142.2 million.
Commenting on the transaction, Atif Abdulmalik, CEO of Arcapita, said: “We believe FORBA’s experienced management team, with in-depth knowledge of the Medicaid healthcare sector, is well placed to continue the company’s growth strategy which has resulted in the company’s revenues growing at a compound rate of more than 40 per cent over the past 6 years.”
The acquisition was overseen from Arcapita’s US office in Atlanta. Charles Ogburn, head of Global Corporate Investment, commented, “We expect FORBA’s growth to remain robust, as management rolls out their proven strategy of opening and developing new clinics, with an expectation of opening at least 12 to 18 clinics per year over the next five years. FORBA is the leader in an underserved market, where only 25% of a total possible market of almost 40 million customers is currently being addressed. The company has a proven business model of building large, efficiently managed clinics that operate profitably in the Medicaid/SCHIP environment.”
This acquisition is Arcapita’s largest US corporate acquisition and joins other recent transactions such as the $4.2 billion acquisition of Viridian Group plc, the Northern Ireland electricity utility and the €620 million acquisition of Paroc Group, the leading manufacturer of insulation products headquartered in Finland.

Thursday, April 17, 2008

Questions about Arcapita and FORBA Dental Management

Where and how did Arcapita get all messed up in this. I mean for 460.3 million dollars as is reported that at some point was given to someone (several someones, several LLC's, INC's whatever..more on this one) for FORBA, LLC what did Arcapita get? (...a mess is what I'm thinking...lol...just kidding guys, don't get bent all outta shape)

Again I'm confused because in some reports it says that Arcapita Bank got FORBA for 142 million in Jan. 2007 see here.

Then other reports
(arcapita's annual report) of Aracapita (no bank on this one) got FORBA for 460.3 Million! WOW that's a huge profit in little under a year!!!

WOW!!

Or did Arcapita get FORBA at all... Hmmmmm .... I dunno...

Earlier posts raises big questions about that.