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Court lets SemGroup use up to $4.8M to pay contractors |
A Delaware bankruptcy judge has authorized SemGroup LP to use up to $4.8 million to pay construction contractors for pre-petition claims. The parent company, which filed for Chapter 11 bankruptcy on July 22 along with 24 subsidiaries, has
also reached an agreement with publicly traded SemGroup Energy Partners LP (SGLP). After a hearing Tuesday, Judge Brendan Shannon issued an order allowing the bankrupt parent to pay the construction contractors. Shannon's order provides
that payment may be conditioned on the agreement of individual contractors to continue to supply materials or render services to the debtor companies through completion of work on applicable projects.
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Tapp plots $10M Owasso retail development |
In one week Tapp Development of Edmond will acquire a former Albertson's grocery store and the neighboring Owasso shopping center, repackaging them for a Wal-Mart Neighborhood Market development.
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Officials find wine regulation a quagmire split among agencies |
Wine is an alcoholic beverage. And a food item. And a manufactured item. Regulation of Oklahoma's growing wine industry is a confusing thing, said representatives from a few of the state agencies with some jurisdiction over the industry.
Kurt Morgan, legal counsel for the state Alcoholic Beverage Laws Enforcement Commission, was barraged with questions during Tuesday's meeting of the state House General Government Subcommittee on Government Modernization.
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Brett Hamm resigns from Downtown OKC Inc. |
Brett Hamm is pursuing a new career path. "I'll just address that head on," he joked Wednesday. "I'm the new center for the Oklahoma City Thunder." All kidding aside, Hamm has stepped down as president of Downtown OKC Inc., where he has
served since September 2006, to return to the private sector.
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Retail developers squeezed by tenant, credit crunch |
Edmond real estate developer Jim Tapp witnessed the contraction of potential shopping center tenants even before lenders started tightening their purse strings. But that doesn't make dealing with today's credit crunch any easier. "It's a
different environment today than it was just six or seven months ago," said the president and chief operating officer of Tapp Development, which has six different retail and hospitality projects under way in the Tulsa area, two of them
anchored by Wal-Mart Supercenters. "Without question the deals are being looked at far closer."
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