Southcross Energy Partners LP has resolved contract disputes with its parent, gaining stakes in non-bankrupt affiliates and avoiding a legal battle that might have hindered plans to sell pipelines.
Southcross unveiled the agreement in Delaware bankruptcy court papers filed Sept. 17, seeking approval from the judge presiding over its Chapter 11 case.
The Dallas-based company sued its ultimate parent Southcross Holdings Borrower LP and other subsidiaries in August, after filing for bankruptcy in April. The debtors accused the “Southcross Holdings entities” of making fraudulent transfers and violating an agreement related to the gathering and processing of natural gas.
Under the ...
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