Bankruptcy and Corporate Restructuring co-chair Alex Spizz was featured in Calcalist, an Israeli daily newspaper, on his client Ampal’s debt settlement. At the company’s bondholders’ meeting in Tel Aviv, Alex stated, “Ampal will receive $173 million, which should result in bondholders receiving at least 50 cents on every dollar of debt.”
When asked what alternative there was to the Ampal arrangement, Alex explained that it would take millions of dollars and many years to continue managing the legal proceedings and arbitration, going on to say, “the arrangement represents a compromise by all parties,” adding, “a bird in hand is sometimes better than two in the bush.”
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|Spizz, Alex Partner and Co-Chair of Bankruptcy and Corporate Restructuring Practice||Partner and Co-Chair of Bankruptcy and Corporate Restructuring Practice||212.216.1155|