Ampal CEO, Creditors Battle For Control In Ch. 11

Law360, New York (April 4, 2013, 3:27 PM EDT) -- Ampal-American Israel Corp.’s creditors and CEO continued their battle Thursday over who should run the energy company as it tries to get back on its feet, putting the fate of a proposed deal that would appoint new directors up in the air again.

At a hearing Thursday, the New York bankruptcy judge overseeing Ampal’s Chapter 11 proceedings delayed his ruling for the second time on a stipulation between the official committee of unsecured creditors and outgoing Ampal directors that would resolve accusations by the creditors’ counsel,...
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