Withheld Customer Payment Puts Pipeline Builder In Ch. 11

By Vince Sullivan (October 22, 2018, 10:10 PM EDT) -- An Ohio pipeline builder hit Chapter 11 Monday in Delaware after one of its largest customers withheld a $23 million payment this month and filed a lawsuit alleging that the company breached its contract, it said, putting an immediate strain on its near-term liquidity and creating concern among its remaining customers.

In its initial bankruptcy filings, Welded Construction LP said that it recently completed work on a portion of the Atlantic Sunrise pipeline for an affiliate of The Williams Companies, but that the customer refused to make the $23 million payment on Oct. 4 and instead filed a lawsuit in Texas...

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