January 8, 2019 / 12:53 AM / in 4 months

Fairway Energy defends Ch. 11 bankruptcy venue in push to find buyer

A bid by two equity holders of midstream oil storage provider Fairway Energy LP to transfer the venue of its bankruptcy could upset the company’s plans to sell itself, its chief financial officer said on Monday.

Fairway CFO Robert Flavin in a filing in U.S. Bankruptcy Court in Delaware said the move proposed by the two equity holders “comes with significant risk” for milestones in terms of the company’s bankruptcy loan, which include obtaining an order on Thursday for bidding procedures.

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