Shares in Chesapeake Energy set for delisting, as historic bankruptcy is finally official

FORBES | The NYSE this morning suspended trading in shares of freshly bankrupt Chesapeake Energy and commenced delisting proceedings for the stock, which is frozen at $11.85. 

The company, in filings yesterday for its Chapter 11 restructuring, in U.S. Bankruptcy Court in Houston, made it clear what the outcome was going to be for holders of its common stock under its plan. “Each holder of an existing equity interest in Chesapeake shall have such interest cancelled, released, and extinguished without any distribution.” 

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