Members of Saudi Arabia's wealthy Baeshen family, who control one of the Middle East's leading tea purveyors, are suing the reorganized Arcapita Bank for the return of millions of dollars they'd earmarked for the bank's aborted stock sale, Dow Jones Daily Bankruptcy Review reported yesterday. Lawyers for the Baeshens, the family behind the Rabea Tea brand, are seeking the return of some $3.5 million deposited at the bank in connection with the Bahraini bank's abandoned rights offering. Arcapita raked in $83.1 million from investors, according to court papers filed Thursday in U.S. Bankruptcy Court in New York, but abandoned the rights offering in 2012.
