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Ruby Pipeline Strikes Deal With Creditors On Bankruptcy Timeline

July 19, 2022, 4:49 PM

Bankrupt Ruby Pipeline LLC struck a last-minute deal with its creditors and bondholders that puts it on track to sell its nearly 700-mile natural gas pipeline and emerge from Chapter 11 by January.

US Bankruptcy Judge Craig Goldblatt at a hearing Tuesday said he would sign off on the settlement reached late Monday between Ruby, an ad hoc group of bondholders, and an unsecured creditors committee. The deal, which sets a timeline and milestones for the bankruptcy proceeding, resolves a dispute with creditors over the trajectory of the case.

Ruby, under the agreement, would hold a potential auction for the ...