Originally Posted by dyna mo

no, it's not, if they were not fine with it, they would not have pre-packaged the deal terms and presented it as fine to the judge. so it's not a misnomer, it's a nomer.

and it sounds like you got ch7 mixed up with ch11, ch7 requires a trustee, ch11, as i mentioned 2x above, defaults to *debtor in posession* and usually (routinely) does not have a trustee. a trustee runs the business while the business is in bankruptcy proceedings, something the debtor and creditors are very not fine with, thus pre-packaged terms presented to the judge and accepted by the judge.