Cleveland Integrity, Oil Pipeline Inspector, Files Bankruptcy

Cleveland Integrity Services Inc., which inspects and certifies oil and gas pipelines, filed for bankruptcy protection from creditors, blaming a slow down in new energy projects.

• Company plans to sell itself to lenders owed about $159 million, unless a higher bid comes in during the bankruptcy
• Cleveland will ask a judge for permission to borrow as much as $30 million from its current lenders to help pay for the bankruptcy case
• Company said it filed bankruptcy as the oil and gas industry reduced investment in new projects in recent years
• The case is Cleveland Integrity Services, Inc., 23-90052, ...