The US Bankruptcy Court approved the fifth amended joint plan of reorganization of Chesapeake Energy Corporation on January 15, 2021. The debtor has filed its fifth amended plan in the Court on January 12, 2021. As per the amended plan, general administrative claims, professional fee claims of $136 million, statutory fees, priority tax claims, other priority claims, other secured claims and DIP Claims of $925 million will be paid in full in cash. Revolving credit facility claims of $752 million will be paid through tranche A RBL exit facility loans or tranche B RBL exit facility loans, on a dollar-for-dollar basis. FLLO term loan facility claims of $1,525 million shall be recovered between 39.3%-79.3% and will be paid through pro rata share of 76% of the new common stock and the FLLO rights while 11.5% second lien notes claims of $2,471 million shall be recovered between 9%-21.2% and will be paid through pro rata share of 12% of the new common stock, the second lien rights, the new class A warrants, the new class B warrants, and 50% of the new class C warrants. Unsecured notes claims of $3,404 million with a recovery range of 2.3%-4.4% will be paid through pro rata share of the unsecured claims recovery and 50% of the new class C warrants and general unsecured claims of $1036 million with a recovery of greater than or equal 0% will be paid through pro rata share of the unsecured claims recovery. Unsecured note claims of $3,404 million shall be recovered between 2.3% to 4.4% and shall receive its pro rata share of 12% of the new common stock and 50% of the new class C warrants. Intercompany claims in the range of $0 - $0.1 million and intercompany interests will be reinstated and existing equity interests will be cancelled. The plan will be funded though cash in hand, sale of assets, proceeds from exit facility, Tranche A RBL Exit Facility Loans, Tranche B RBL Exit Facility Loans, exit FLLO term loan facility of $750 million, issuance of new common stock, warrants and rights.