May 8, 2013 / 1:25 PM / in 5 years

Chesapeake wins bond dispute with Bank of NY Mellon

May 8 (Reuters) - A federal judge on Wednesday ruled in favor of Chesapeake Energy Corp in a dispute with Bank of New York Mellon Corp over the natural gas company’s effort to buy back $1.3 billion of notes early.

U.S. District Judge Paul Engelmayer in Manhattan said Chesapeake’s March 15 notice to redeem the notes, which otherwise would have matured in 2019, at 100 cents on the dollar plus interest was timely and effective.

In his 92-page decision, Engelmayer rejected the claim by Bank of New York Mellon, the trustee for the notes, that Chesapeake had missed an earlier redemption deadline.

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