Some high-profile hedge funds sitting on $250M in Chesapeake Energy (CHK) debt seek to withdraw...

|About: Chesapeake Energy Corpora... (CHK)|By:, SA News Editor

Some high-profile hedge funds sitting on $250M in Chesapeake Energy (CHK) debt seek to withdraw from litigation between the company and Bank of New York Mellon (BK) over whether or not bonds can be redeemed.  After originally being allowed by the court to intervene in the case, the funds are taking the action in an effort to simplify and speed up the courtroom proceedings.