Ruby Pipeline Banker Expects Multiple Bids in Bankruptcy Sale

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 ...