By Jamie Santo (July 10, 2015, 11:19 PM EDT) -- A New York federal judge ruled Friday that Chesapeake Energy Corp must pay nearly $380 million to bondholders whose $1.3 billion in notes it redeemed at par in 2013 in what it thought at the time was a timely special buyback, finding the investors should received the full make-whole price.
In a 37-page opinion, U.S. District Judge Paul A. Engelmayer ruled the noteholders were entitled to the make-whole laid out in the indenture since Chesapeake had been found to have missed the deadline for making a penalty-free redemption, rejecting the company's argument that a reduced compensation was appropriate because it acted...
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