Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

On November 14, 2012, Ampal-American Israel Corp. (the "Company") announced that Merhav-Ampal Group Ltd. ("MAG"), an indirect wholly owned Israeli subsidiary of the Company, received a written notice from Israel Discount Bank ("IDB") accelerating and setting to immediate repayment all outstanding indebtedness (approximately $58.9 million of principal and $1.0 million of interest) of MAG to IDB pursuant to a Letter of Undertaking dated December 3, 2007, as was amended (the "Loan"). The proceeds of the Loan were used for the acquisition of Gadot Chemical Tankers and Terminals, Ltd. ("Gadot"), a wholly owned indirect subsidiary of Ampal.

IDB's notice alleges several breaches of the Loan by MAG and of a guarantee of the Loan by the Company and states that as a reason, among other reasons, for sending the immediate repayment notice. IDB stated in its notice that it is reserving all rights and remedies to recover all amounts due under the Loan, including foreclosing on Gadot shares owned by MAG, which have been pledged to IDB as security for the Loan.

As previously disclosed, the Company filed a voluntary petition for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York on August 29, 2012, and is currently working on a plan of reorganization.

On November 14, 2012, the Company issued a press release regarding the notice from IDB, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

EXHIBIT DESCRIPTION

99.1 Press Release of Ampal-American Israel Corporation, dated November 14, 2012.

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