Ex-SemGroup CEO Asks Court To Toss Fraud Suit

Law360, Wilmington (June 23, 2011, 6:45 PM EDT) -- Former SemGroup LP CEO Thomas L. Kivisto lobbied a Delaware bankruptcy court on Thursday to quash a fraud suit brought against him in an Oklahoma federal court, saying the claims belonged to a litigation trust set up in the bankruptcy.

The former limited partners of the reorganized oil distributor, now called SemCrude, filed suit in Oklahoma federal court in January, bringing direct claims for negligent misrepresentation, fraud and breach of fiduciary duty against Kivisto stemming from SemGroup’s collapse. The complaint also alleged professional negligence and accounting...
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