Maiman Hands Control of Ampal to Its Bondholders

The announcement surprised both Ampal's management and the creditors committee that had been appointed by a U.S. court to represent the bondholders after it filed for bankruptcy protection.

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After a year of fruitless talks over NIS 850 million in debt, Yossi Maiman handed over control of his Ampal-American Israel Corporation to the company's...