Doug Lawler Drilled Chesapeake’s Grave – Not Aubrey McClendon

Chesapeake Energy faces a series of deadlines to make payments to debtors. Today, June 15, is the first such deadline when something like $17 million in interest payments is owed. The company has a $134 million bond interest payment due on July 1 for its second-lien notes. Between today and the end of the month, rumor has it the company will declare bankruptcy (see Chesapeake Stock Soars, Bankruptcy Rumors Soar Too). It is possible for Chessy to delay a bankruptcy filing for an extra 30 days, until the end of July, if they exercise a “grace period.”

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