Bank of America To Help SemGroup In Lawsuit

News On 6

TULSA, OK -- There are new developments in the lawsuit to keep John Catsimatidis from taking over SemGroup.

A federal bankruptcy judge is allowing Bank of America to help SemGroup in its lawsuit against the New York billionaire.

SemGroup says Catsimatidis is trying to take over the energy company and preventing other legitimate buyers from purchasing SemGroup's assets.

The lawsuit is asking that Catsimatidis and four associates be removed from SemGroup's management committee.