CHKAQ - Chesapeake to exit bankruptcy after judge approves reorganization

Chesapeake Energy's (CHKAQ) Chapter 11 reorganization plan was approved by the U.S. bankruptcy court in Houston today, giving lenders control of the company and ending a contentious trial.The judge dismissed arguments from some unsecured creditors that Chesapeake already had designed a 2019 debt restructuring and delayed its filing to improperly benefit mutual fund provider Franklin Advisers and other big debtholders.The plan would value Chesapeake at $5.13B, well above its value at the time of its June bankruptcy filing.

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Chesapeake to exit bankruptcy after judge approves reorganization