Growing files in Chesapeake Energy’s bankruptcy case

 

 

Oklahoma City’s Chesapeake Energy is being opposed by some firms in its Chapter 11 reorganization efforts.

A review of the latest filings showed at least 91 separate court entries were made on Monday of this week in the Southern Texas District of the U.S. Bankruptcy Court. Another eleven were made on Tuesday, Dec. 8.

Chesapeake and 40 of its affiliates owed nearly $9 billion when it filed bankruptcy on June 28 and has asked the courts to approve an exit strategy that would leave it owing $750 million on a term loan and $1 billon on a reserve-based lending facility of $1.75 billion.

What kind of filings were made to accumulate 91 of them on Monday? A transcript order form. Objection to Confirmation of Plan Filed by Eagle Ford Pipeline LLC.

Another is an Objection to Confirmation of Plan Filed by Federal Energy Regulatory Commission. There was a Response/Objection Filed by Microsoft Corporation and Microsoft Licensing. A Response/Objection Filed by Marathon Oil Company.

A Response/Objection Filed by Archrock Partners Operating, LLC. An Objection to Confirmation of Plan Filed by Commonwealth of Pennsylvania. The filings showed one objection after another—an indication that the other companies owed money by Chesapeake Energy are putting up a legal fight and won’t roll over easily.

Bankruptcy Court Judge David R. Jones will have to decide who’s right and who’s wrong in the matter labeled Case No. 20-33233 .