Bloomberg Law
Dec. 6, 2022, 9:22 PM

Ruby Pipeline Banker Expects Multiple Bids in Bankruptcy Sale

Jeremy Hill
Jeremy Hill
Bloomberg News

A banker for Ruby Pipeline expects to receive at least one more bid for the insolvent natural gas pipeline, which has already received an offer from existing part-owner Kinder Morgan Inc. for more than $230 million cash.

  • “Sitting here today, I feel we will have multiple bids” for Ruby Pipeline, said John Singh of PJT Partners, who testified in bankruptcy court Tuesday
    • Final bids for Ruby Pipeline are due Wednesday and an auction will follow next week if necessary, Singh said
  • Singh was testifying as part of a fight between Ruby and its creditors over proposed breakup fees for ...