> Don't you think creditors should have a say in whether a company should be allowed to delete some debt and try to become profitable again? Creditors already d

> Don't you think creditors should have a say in whether a company should be allowed to delete some debt and try to become profitable again? Creditors already do have a say don't they? At the moment of filing, director's fiduciary duties expand to residual claimants in addition to shareholders. In addition, creditors have paths to reclaim fraudulent transfers (bonuses included) in court although it is a hard case to win. Creditors can also ask the court to convert to Chapter 7, but this is almost always in no one's best interest (shareholders wiped out, junior creditors wiped out, senior creditors will probably lose a non trivial amount, everyone loses a job).