SemGroup Provides Update on Reorganization
September 9, 2008
Tulsa, Okla. – September 9, 2008 – At a meeting of creditors today, SemGroup, L.P. provided a list of accomplishments it has made since the company and certain of its North American subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code on July 22, 2008.
“This is a large and complex reorganization, yet we are making remarkable progress toward our ultimate goal of either selling or restructuring our assets for the benefit of our creditors,” said Lisa Donahue, SemGroup chief restructuring officer. “There is a great deal left to be done, but we have come a long way in the seven weeks since we initiated the reorganization.”
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