SemGroup Gets OK For Remaining $25M DIP Funds

Law360, New York (September 18, 2008, 12:00 AM EDT) -- Energy company SemGroup LP has won final court approval to access the $25 million balance of its requested $175 million debtor-in-possession financing, with a bankruptcy judge saying good cause had been shown to grant the relief.

U.S. Bankruptcy Judge Brendan L. Shannon of the District of Delaware signed off Wednesday on a request to borrow the whole of the sought-after funding, more than a month after he approved the bulk of the DIP loan.

The credit facility, which SemGroup has said will help keep it afloat,...
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