Hedge Funds in Chesapeake Bond Fight Seek to End Intervention
This article is for subscribers only.
Hedge funds holding $250 million in Chesapeake Energy Corp. debt asked a judge to withdraw from litigation between the company and bond trustee Bank of New York Mellon Corp. over redemption of bonds.
The hedge funds, which were allowed to intervene in the matter in Manhattan federal court, asked U.S. District Judge Paul Engelmayer yesterday for permission to withdraw, saying it will reduce the number of parties involved and avoid potentially duplicative filings.