Energy

Hidden wine cave, $110 million parking bill

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Fracking giant Chesapeake Energy’s bankruptcy filing comes following a financial mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages, sources told CNBC’s David Faber.

CEO Robert D. “Doug” Lawler found in examining the company’s books a $110 million bill for two parking garages, Faber reported Monday. That was part of about $30 billion in spending above cash flow that happened from 2010-12, while the late Aubrey McLendon was CEO and prior to Lawler taking over in 2013.

Other revelations include a wine collection in a cave hidden behind a broom closet in the Chesapeake office. Extravagances further included a season ticket…



Source cnbc.com

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