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 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. The two sides met yesterday in Tel Aviv for further debt talks. Bondholders said yesterday they will now have to form a management group in coming days to supervise the assets bequeathed to them. They include the natural gas pipeline running across the Sinai Peninsula to Israel, an option for 25% of an ethanol project in Colombia, a 37% stake...
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