Catsimatidis Launches SemGroup Web Site, Hotline

SemGroup launches a Web site and hotline dedicated to the reorganization of SemGroup, LP, which is currently in bankruptcy.
John Catsimatidis, chairman of the Red Apple Group of New York and current management committee majority leader of SemGroup GP, LLC, is the general partner of SemGroup LP.
The site, located at www.SemReorg.com, was developed after Catsimatidis visited with employees in Tulsa regarding his plans to save the bankrupt company. SemGroup employees and concerned citizens now also have the option to leave a message at the SemReorg hotline 918.477.4177 or mail their questions to P.O. Box 35487, Tulsa, OK 74153.
“While I was in Tulsa, I received feedback that SemGroup LP’s employees not only want to communicate their thoughts about the reorganization process, but also want to ask questions about what’s going on,” said Catsimatidis. “The Web site will allow them to do that.”
The Web site includes a section where employees and members of the community can ask questions, as well as view past news articles, press releases, frequently asked questions and biographies on Catsimatidis and his associates on the management committee.
Since Catsimatidis and his associates were appointed to the majority of the seats on the SemGroup G.P., L.L.C., management committee, Catsimatidis has been actively working on a reorganization plan to restructure SemGroup, L.P. and keep it in one piece. The plan is scheduled to be presented to bank creditors in February.
SemGroup had revenues of more than $14 billion in 2007 and employed more than 2,200 people worldwide. The company filed for protection under Chapter 11 of the U. S. Bankruptcy Code in July.



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