Kinder Morgan-Backed Ruby Pipeline Files for Bankruptcy

Ruby Pipeline LLC, co-owned by Kinder Morgan Inc. and Pembina Pipeline Corp., filed for bankruptcy to address its high debt load and to improve liquidity.

The natural gas pipeline company sought Chapter 11 protection in Delaware, listing assets and liabilities of as much as $1 billion each, according to a court filing.

The company struggled to find a solution for about $475 million of bonds due on April 1 after a previous effort came up empty at mid-month, Bloomberg News reported previously, citing people with knowledge of the discussions who asked not to be identified because the matter ...