Fairway Energy, LP and affiliates
Fairway Energy, LP and its affiliates operated an integrated business that owned and operated an underground crude oil storage facility in Houston, Texas. They commenced their bankruptcy cases to sell their business as a going concern. Following a marketing and sale process and auction, the Fairway debtors ultimately sold substantially all of their assets to Fairway New Co LLC, an affiliate of their lender, Riverstone Credit Partners-Direct, L.P., for a $77.5 million credit bid. After the sale closed, the debtors successfully achieved confirmation of their plan of liquidation. Young Conaway serves as co-counsel in Fairway’s bankruptcy cases with Haynes and Boone, LLP.