In light of the filing for bankruptcy protection of our parent company, SemGroup L.P., and certain other related parties in the United States, SemCAMS ULC (“SemCAMS”) found it necessary to file for creditor protection under the Companies’ Creditors Arrangement Act (“CCAA”) on July 22, 2008. The purpose of the CCAA is to allow companies to stabilize their business and restructure their financial affairs in an orderly, court-supervised process.
Ernst & Young Inc. has been appointed as Monitor of SemCAMS pursuant to the Initial Order in the CCAA proceedings of the Court of Queen’s Bench of Alberta. The Monitor is an independent court-appointed officer that will be overseeing our CCAA proceedings. A copy of the Initial Order and other information relating to our CCAA proceedings, including any Monitor’s reports, will be posted shortly on the Monitor’s website at www.ey.com/ca/SemCanada