Ruby Pipeline seeks 75-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Nov. 28 – Ruby Pipeline LLC is seeking a 75-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The company filed a plan on Nov. 1, as previously reported. It was amended on Nov. 18. The hearing on approval of the disclosure statement is scheduled for Dec. 19, and the company is hoping for a Jan. 20 confirmation hearing.

Ruby said it is seeking the brief extension as a precautionary measure.

The company has asked the court to extend the plan filing period through Feb. 9 from Nov. 26 and the solicitation period through April 10 from Jan. 25.

The company recently named EP Ruby, LLC, a subsidiary of Kinder Morgan, Inc., as stalking horse bidder for all of its assets. The cash consideration under the stalking horse agreement is $236 million.

Competing bids are due by Dec. 7 and an auction will be held on Dec. 13.

Ruby Pipeline, based in Houston, is a subsidiary of El Paso Corp. and Global Infrastructure Partners LLC. It is a 680-mile natural gas pipeline that stretches from Wyoming to Oregon. The company filed Chapter 11 bankruptcy on March 31, 2022 under case number 22-10278.

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