Southcross Energy Partners LP
Description
Southcross Energy Partners LP announced that the company and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Southcross expects to continue to operate in the normal course during the court-supervised process.
Southcross has received a commitment for $255 million in debtor-in-possession financing from its current lenders. Upon Court approval, the new financing and cash generated from the Company’s ongoing operations will be used to support the business during the reorganization and sale process.