In Chapter 11 Bankruptcy, the debtor retains ownership and control of assets and is referred to as a “debtor in possession”. The debtor in possession has control of the day to day operations of the business while the creditors and debtor work with the Bankruptcy Court in order to negotiate and complete a plan of reorganization. Upon meeting certain requirements (e.g. fairness among creditors, priority of certain creditors) creditors will  vote on the proposed plan. If a plan is confirmed the debtor will continue to operate and pay its debts under the terms of the confirmed plan. If a majority of creditors do not vote to confirm a plan, additional requirements may be imposed by the court in order to confirm the plan.