Judge delays decision in SemGroup case

TULSA, Okla. (AP) - A bankruptcy judge in Delaware will wait until Tuesday to decide whether Tulsa-based SemGroup LP can take a 250 million dollar loan to keep it in business a little while longer.

The judge previously approved the use of about 50 million dollars which SemGroup officials say will keep the company going until August 15th.

SemGroup filed for Chapter 11 bankruptcy on July 22nd saying it lost more than 2.4 billion dollars in the oil futures markets.

The company also owes more than 2.5 billion dollars to Bank of America and other lenders.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
Sherman 4201 Texoma Pkwy (903) 892 -8123 Ardmore 2624 S. Commerce (580) 223-0946
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 26180404 - http://kxii.com/a?a=26180404
Gray Television, Inc.