Energy Investment Co. Cites $300M Debt In Ch. 11 Petition

Law360, New York (August 30, 2012, 2:41 PM EDT) -- Ampal-American Israel Corp., an energy holding company that specializes in investing in Israeli companies, filed for Chapter 11 bankruptcy protection in New York federal court on Wednesday, listing debts of nearly $300 million.

Ampal, which invests in Israel-based companies in the energy, chemical, real estate and project development industries, said that it had moved toward bankruptcy in order to balance its debt following extended negotiations with bondholders.

"The company's board of directors determined that such a filing is in the best interests of the company's stakeholders...
To view the full article, register now.