In a Chapter 11 bankruptcy case, creditors have significant influence over the process. They can't dictate what the court does, but their voices certainly carry a lot of weight. If creditors think they will be better off with the company remaining a going concern, they may swap debt for equity, offer longer payment terms, or even forgive some debt. When the people and businesses owed money don't think that continuing operations represent the best path forward, they may push for a breakup, a liquidation, o ...