Conoco Blasts SemCrude Disclosure Statement

Law360, New York (June 22, 2009, 12:00 AM EDT) -- ConocoPhillips Co. has objected to a disclosure statement filed in oil distributor SemCrude LP's Chapter 11 case, arguing that the statement doesn't adequately describe the claims of ConocoPhillips and other contract counterparties or address how those claims will be treated in light of ongoing litigation.

In an objection filed Friday in the U.S. Bankruptcy Court for the District of Delaware, ConocoPhillips said any claims it and other counterparties have against SemCrude and its subsidiaries directly depend on the outcome of adversary and other proceedings between the...
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