In a comic book, when things look bleakest, that's usually when a hero emerges to save the day. In real life, however, that does not always happen. Sometimes, despite the best efforts of everyone involved, no hero emerges, and the day doesn't get saved. When a company files for Chapter 11 bankruptcy protection, it risks losing control of its business. "A fundamental tenet of Chapter 11 is that current management continues to operate the company as the debtor in possession," wrote Lee Jason Goldberg for ...