These are recent business filings in U.S. District Court...


November 12, 1990

These are recent business filings in U.S. District Court in Baltimore:

NOV. 1

Evergreen Health Group Inc., 5837 Belair Road, Baltimore. Creditors filed Chapter 11 against the health company. Principal: N.A. Assets: N.A. Liabilities: N.A.

Roy Joseph Herb Jr. (Buzzy Herb, Buzzy's Home Services, Snowmaster Repair & Services), 605B Upland Road, Pikesville. Debtor filed for Chapter 7. Principal: Roy Joseph Herb Jr. Assets: $28,030. Liabilities: $62,230.

S & N Investment Limited Partnership, 7253 Parkway Drive, Hanover. Hotel business filed for Chapter 11. Principal: Sam Chang. Assets: more than $1 million. Liabilities: more than $1 million.

NOV. 5

Construction Management Associates Inc., 141 Gibralter St., Annapolis. General contractor filed for Chapter 11. Principal: N.A. Assets: $916,904. Liabilities: $785,359.

Rodbuster Services Inc., 12110 Pulaski Highway, Baltimore. Installer of steel rods filed for Chapter 7. Principal: Carl Lafon. Assets: $20,000. Liabilities: $750,000.

The following are the most common types of filings under the U.S. Bankruptcy Code.

CHAPTER 7 -- Liquidation. A trustee is appointed to take charge of all the debtor's property, except for certain exceptions allowed in the law. The trustee will sell the remaining property for the benefit of creditors, and unless a creditor objects and is upheld by the court, the debt will be discharged in whole or in part.

CHAPTER 11 -- Reorganization. Available to all individuals or businesses, this chapter is primarily intended to allow an ongoing business to restructure its debt. A successful reorganization depends on filing a plan and obtaining its approval by creditors and the court.

CHAPTER 13 -- Adjustment of debts of an individual with regular income. This chapter provides a method for individual debtors to repay creditors, in full or in part, over a period of up to five years. It ordinarily involves less than $100,000 in unsecured debt and $350,000 in secured debt.

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