Sec Form 3 Filing - Manchester Securities Corp. @ SemGroup Energy Partners, L.P. - 2008-07-18

Insider filing report for Changes in Beneficial Ownership
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FORM 3
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Manchester Securities Corp.
2. Issuer Name and Ticker or Trading Symbol
SemGroup Energy Partners, L.P. [ SGLP]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
See (1) below
(Last) (First) (Middle)
712 FIFTH AVENUE
3. Date of Earliest Transaction (MM/DD/YY)
07/18/2008
(Street)
NEW YORK, NY10019
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
General Partner Units 0 ( 2 ) D ( 1 ) ( 2 )
Subordinated Units 0 ( 2 ) D ( 1 ) ( 2 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Manchester Securities Corp.
712 FIFTH AVENUE
NEW YORK, NY10019
See (1) below
Signatures
Elliot Greenberg, Vice President 07/28/2008
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Manchester Securities Corp. ("Manchester"), a wholly-owned subsidiary of Elliott Associates, L.P., entered into a Loan Agreement dated as of June 25, 2008 by and among Manchester, SemGroup Holdings, L.P. ("SG Holdings") and another party thereto (the "Loan Agreement"). After events of default with respect to SG Holdings occurred, Manchester, pursuant to its rights under the Loan Agreement, obtained the right to direct the voting of all of the General Partner Units of the issuer and thereafter appointed,, inter alia, Sundar Srinivasan and David Bernfeld, who are employed by an affiliate of Manchester, to the Board of Directors of SemGroup Energy Partners G.P., L.L.C., the general partner of the issuer. Therefore, Manchester may be deemed to be a director of the general partner of the issuer by deputization.
( 2 )SG Holdings owns, and has pledged to Manchester and another lender under the Loan Agreement, its 12,570,504 Subordinated Units in the issuer and a 100% interest in the issuer's General Partner Units (consisting of 690,725 General Partner Units). As a result of the events of default with respect to SG Holdings, Manchester has a right to foreclose on 13/15 of such interests owned by SG Holdings. As of the date of this filing, Manchester has not foreclosed on these interests and has not decided to do so.

Remarks:
Elliott Associates, L.P. is a Delaware limited partnership. Paul E. Singer, Elliott Capital Advisors, L.P., a Delaware limited partnership, which is controlled by Mr. Singer, and Elliott Special GP, LLC, a Delaware limited liability company, which is controlled by Mr. Singer, are the general partners of Elliott Associates, L.P.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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