Alex Sapir’s Sapir Corp has filed for insolvency, saying it can no longer meet its bond payments or cover operating costs. The Israeli company that owns the Nomo Soho hotel in Manhattan filed a petition in Tel Aviv-Jaffa District Court requesting to open insolvency proceedings and the appointment of a trustee to manage it. All the directors of the company have resigned, according to a filing with the Tel Aviv Stock Exchange, which names Alex Sapir as the controlling shareholder. As the comp...
