When a company enters Chap.11, they list all their debt outstanding and who the creditors are. The companies first hurdle is to prove to the court they have enough money to continue operations or otherwise obtain DIP financing.
Beyond that is all becomes a court brokered negotation on re-negotiated costs and writing off what debt they can. Eventually the company comes to a sound restructuring and exits from the oversight of the courts and back into the public realm.