Judge Rips Chesapeake Bondholders In $1.3B Refinance Row

Law360, New York (March 12, 2013, 9:31 PM EDT) -- A federal judge on Tuesday criticized investors in Chesapeake Energy Corp. bonds who oppose its plan to refinance $1.3 billion in debt, suggesting that they intend to unjustly enrich themselves at the natural gas company's expense.

U.S. District Judge Paul Engelmayer found a position taken by bondholders “troubling,” he said at an emergency hearing in Manhattan federal court. The judge heard arguments on whether Chesapeake can force bondholders to sell their bonds back to the company, part of a bid to call back $1.3 billion in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.