Law360, New York (January 8, 2015, 10:34 AM EST) -- On Nov. 25, 2014, a panel of judges on the U.S. Court of Appeals for the Second Circuit issued a decision in Chesapeake Energy Corp. v. Bank of New York Mellon Trust Co., holding that Chesapeake Energy failed to timely give notice of a special redemption for a series of notes that would have allowed Chesapeake to redeem the notes at par, plus accrued interest, with no make-whole or other premium. This decision overturned a lower court ruling by Judge Paul Engelmayer of the United States District Court for the Southern District of New York, which found that Chesapeake timely redeemed the notes, allowing Chesapeake to take advantage of the special redemption price....