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!)

Man, 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

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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

                                           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 points 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.

 

Church Street Health Management–From Arcapita's Website

 

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. 

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! 

Arcapita Bank Only Owns Tangible Assets of Forba

First just let me say this is going to be one confusing post but it's needed to lay the ground work for more posts to come.
Let's look at Arcapita Bank, formerly known as First Islamic Bank. It has several holdings here in the US including Church's Chicken, PODS, Caribou Coffee and Forba/Small Smiles.
Cresent Capital, based in Atlanta is a subsidiary of Arcapita Bank.
While foreign ownership of U.S. businesses is nothing new, the bank is paving some new ground by choosing its investments according to Islamic religious law, known as Sharia.
Because of religious law, the bank also avoids charging or paying interest. So, instead of operating like a traditional bank, Arcapita collects money for long-term investments and follows some creative methods to get a profitable return.
Use a leasing type structure the companies they acquire will sell its buildings and machinery to the bank [and] the bank will lease those assets back to the company. So, instead of interest payments, you have rental payments. Now we don't know which buildings Arcapita owns or what machinery but this is the way they invest in American companies.
Basically Forba/Small Smiles pays Arcapita rental payments every month while still actually owning the actual company, Forba. So Dan, Michael, Eddie, and Mike Roumph, Dan's partner in crime still own, always have owned Forba Small Smiles.
Here is one commentary on how this bank operates:

SHAUNTI FELDHAHN (COMMENTARY):
At first glance, companies practicing Muslim Shariah look like a conservative investor's dream -- establishments that family-oriented consumers would want to support. Companies following Shariah avoid gambling, porn and alcoholic businesses, will not charge interest and will not try to produce extreme profits. One giant Bahrain-based financial holding company that follows Shariah, until recently named the First Islamic Investment Bank (now called Arcapita), is the largest Middle East-based investment firm in the U.S. Caribou Coffee, PODS and Church's Chicken are just three of its many holdings.
The problem comes when you realize that Shariah is an all-encompassing ideology that many adherents believe should not and cannot be limited just to business. In many countries, its personal application leads to terrible human-rights violations, such as men being allowed to beat and subjugate their wives, authorities cutting off hands for stealing, and so on.
Oil-cash-rich Middle Eastern companies are investing in the U.S. and elsewhere at a record pace. Many practice the business form of Shariah. But when you and I patronize those businesses, where do our dollars actually go?
Arcapita's Web site forthrightly explains that 81 percent of the organization "is held by over 255 prominent individuals and institutions mostly from the Arabian Gulf region." This means that a huge percentage of the profit of this massive company go to 255 wealthy, influential Middle Eastern groups and individuals. And history has shown that they aren't always people with human rights or American interests at heart. In 2002 Arcapita power-broker Yusuf Al-Qaradawi defended the bloody acts of Palestinian terrorists by commending "our brothers and children in Al-Aqsa and the blessed land of Palestine generously sacrificing their blood, giving their souls willingly in the way of Allah." He later stepped down.
I have always loved Caribou Coffee, but as I walked by one recently, I hesitated to go in. I'm really not sure that the 255 Middle Eastern investors that own most of it have our national values or interests at heart. And if they fervently support business Shariah, it seems highly likely that some of them use their wealth and influence to spread family Shariah as well. When there is a choice of coffee shops, do I really want to support all that with my own money?