Ampal files for bankruptcy over Israel-Egypt gas clash

摘要

Jerusalem—Ampal-American Israel Corp. has filed for bankruptcy in the US after facing a severe cash crunch due to the halt in Egyptian natural gas supplies to Israel. The company’s board of directors has been wrestling with bondholders in Israel over the best way to repay the company’s debts. The voluntary petition for Chapter 11 reorganization was filed with the US Bankruptcy Court for the Southern District of New York, the company said in a statement.