Should You Buy Stock in a Company That Is In Chapter 11?

A friend of mine at work who thinks (incorrectly) that I am the stock guru asked me. Of course, I understand the basics, i.e. if the bankruptcy goes bad you get completely wiped out but there is a chance that you can make it through the rain. Examples of this would be Continental Airlines and perhaps Johns-Manville. Can someone either share personal examples of Chapter 11 “Big-Time” companies (not fly-by-nighters) that either did or did not pay off for those who invested? Or direct me to a helpful website with case histories?

Hurricane Hydrocarbons Ltd., I think it dropped off the NASDAQ in 1999 but should be coming back on soon, and was in “chapter 11” - under court protection for bankruptcy. ($Cdn) Its shares were as low as 0.35, I had $5000 worth for a little while at $0.45 but I sold at $0.50, its gone as high as $11.40 recently. It’s kind of a unique company, an oil company in central Asia.