Washington (Reuters)-the embattled chief executive Chesapeake energy company had hired top defense lawyer representing him to $13 billion yuan, personal loans in the securities regulatory survey, three people familiar with the situation said.
Chief executive aubrey, McKellen has keep up with partners of duane Morrison, and the securities and exchange commission (SEC) before the law enforcement ZhangJianDong assistant director of the Pickholz. He counselling and the SEC investigation will he from an investment company and natural gas company get up to do business loan McKellen.
The securities and exchange commission is investigating the loan is a conflict of interest, or should disclose to shareholders.
EIG global energy partners management of investment funds loan, make up the McKellen a special to attend the awarded him up in Oklahoma city's Chesapeake drill every Wells as high as 2.5% interest.
McKellen as loan collateral and put to use the bet.
The securities and exchange commission investigating shortly after work, April 18,, Reuters reported on McKellen, jointly founded the Chesapeake more than twenty years before the loans.
Pickholz, lawyers positive and the tough words, represent the key in home economics patriarch trial the prosecution witness obstruction of justice charges from insider trading survey produced Martha Stewart. He also often in TV news programs legal commentators.
Pickholz, who also wrote a book by Reuters "WESTLAW department published stock crime, refusing to comment on this article.
"ZhangJianDong Pickholz is undoubtedly a great, and 1 famous litigation lawyers who have been in the decades of number 1, and his fame he is a very tough, positive, in the face of litigation, you people type," said bill before the singer duane Morrison partner, who is now a Herskovits PLLC company partner.
"He who was not easy to be intimidated."
McKellen will appear on the legal struggle assets and liabilities in Chesapeake control, he suffered a series of setbacks. The news of the company's loan EIG, after put McKellen and Chesapeake the board of directors of the company has been serious pressure from shareholders maintenance company management and strategy.
In mid-may, the board of directors of the company announced that it will replace McKellen as chairman of up to, and appointed an independent chief director. Polls close, the founder of the so-called well to participate in the programme, through it, he received good interests, he in June 2014.
The board also launched a McKellen has been completed and put and Chesapeake business of the company between all financial transactions in the investigation.
Last Monday, the company bow billionaire activist investors Karl Iraq camp and O mason Hawkins southeast asset management pressure, gave them names for four independent directors to the company's nine members of the board of power.
The company did not say much about the SEC investigation since May 3, confirmed that it's there. Are the securities and exchange commission in Texas's regional office inquires at best.
And Pickholz representative McKellen is Matthew Taylor on work, duane Morrison trial practice group leader, a person familiar with the matter said.
Taylor duane morris, through spokesman declined to comment.
Up for McKellen spokesman declined to comment.
For many years, pickholz already dealing with various kinds of high-profile matters. He served as jack acheson, in the Lincoln savings and loan association of scandals, in the early 1990 s, the audit partner lawyer.
He also said, as the prosecution witness, obstruction of justice during her case of Martha Stewart broker assistant Douglas method Neil. Stewart, have never been accused of insider trading, lying in the stock trade investigation, and in 2004, was convicted and sentenced to 5 months in prison.
Taylor said the defendant in the SEC's primary school to reserve fund, among them "breaking" in a financial crisis, its net assets per share fell below $1.
At the same time, Chesapeake has hired grace with cloth respectively weir giuliani and Patrick Craine, in the company's Dallas office partner, in order to solve the SEC investigation, several people familiar with the matter said.
For the Chesapeake spokesman declined to comment. Cloth with giuliani and weir grace not commented on the matter of the request again and again.
Craine used in the fort worth office in SEC.
Cloth with giuliani had to grace weir Chesapeake, including in 2008, when the SEC of the finance department of the company began to require the disclosure up by now receive McKellen SEC probes center, and up the benefits of a scheme.
Some investors and corporate governance experts have questioned whether it is suitable for an investment company, it with Chesapeake business also provide financing to the chief executive. When the Chesapeake the board of directors of the company announced that it will end in 2014 of drilling investment, it said, it did not approval or examination EIG company from loans.
On April 23 letter in its energy as the key point of investment funds, EIG chief executive r. Blair Thomas, to investors said, this is "not true", have any conflict, in its loan interest on McKellen and Chesapeake deal.
In short, McKellen has taken up to $1.55 billion worth of loans EIG company and other lenders since 2009, to fund his program participation in drilling. This up, make him in all the Wells Chesapeake exercise receive as much as 2.5% of shares, has the same percentage of the cost of the well in return.
Reuters also reported some other potential benefits McKellen as Chesapeake put and chief executive position of the conflict. These potential conflict, including the members of the board of directors of the money before borrowing and his office in the company production of similar goods investment of us $200 million in hedge funds.




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