U.S. District Court in Baltimore: 1991 bankruptcy filings

BANKRUPTCY REPORT

April 29, 1991

The following are bankruptcy filings in U.S. District Court in Baltimore.

APRIL 17, 1991

Susan L. Addington (Addington Advantage Interior & Gallery), 6 Buttrick Court, Apt. 303, Timonium. Business filed for Chapter 7. Assets: $2,100. Liabilities: $40,855.

Timothy Franklin Covey and Margaret Jane Covey (C&P Waterfowlers, Miles River Painting Co.), 28110 Glebe Road, Easton. Painter and hunting guide filed for Chapter 7. Assets: $8,668. Liabilities: $25,431.

Edward Anthony Wade (Edward Wade Home Improvement, Wade Door Service), 1303 S. Potomac St., Baltimore. Business filed for Chapter 7. Assets: $19,500. Liabilities: $46,200.

APRIL 18, 1991

Larry W. Kenton (Maryland Reptile Farm), 25 Enchanted Hills Road, Apt. 1, Owings Mills. Business filed for Chapter 7. Assets: $4,951. Liabilities: $6,888.

Metropolitan Associates Inc. (Metropolitan International), 890 Airport Park Road, Suite 120, Glen Burnie. Creditor filed Chapter 7 against the security and guard services firm. Principal: N.A. Assets: N.A. Liabilities: N.A.

APRIL 22, 1991

Cabin Branch Limited Partnership, 409 Washington Ave., Suite 600, Towson. Land development firm filed for Chapter 11. President: John Hersman. Assets: $4,141,604. Liabilities: $4,042,722.

H. T. Enterprises Limited, 4203 Green Glade Road, Phoenix. Inactive holding company filed for Chapter 7. Principal: Fred L. Elrick Sr. Assets: $0. Liabilities: between $100,000 and $499,000.

Kenneth Joseph Smialkowski (KS Painting, KS Painting Contractors), 1915 Armco Way, Baltimore. Painting company filed for Chapter 7. Assets: N.A. Liabilities: N.A.

APRIL 23, 1991

Chesapeake Trawlers Inc., c/o Millard H. Pierce Jr., P.O. Box 2973, Annapolis. Yacht sales and service company filed for Chapter 7. Principal: Millard H. Pierce Jr. Assets: $0. Liabilities: $350,881.

Columbia Bank Tower Limited Partnership, 10320 Little Patuxent Parkway, Columbia. Business filed for Chapter 11. Assets: N.A. Liabilities: N.A.

Clark/MDG Associates Limited Partnership, 10320 Little Patuxent Parkway, Columbia. Business filed for Chapter 11. Assets: N.A. Liabilities: N.A.

Direct Housekeeping Services Inc. (Direct Housekeeping), 2327 E. Preston St., Baltimore. Janitorial business filed for Chapter 7. Principal: Josephine Kellman. Assets: $1,429. Liabilities: $937,000.

EBC/MDG Associates Limited Partnership, 10320 Little Patuxent Parkway, Columbia. Business filed for Chapter 11. Assets: N.A. Liabilities: N.A.

Cheryl Cronan DeNike (Gift Baskets Plus, Paperworks), 5721 Bellona Ave., Baltimore. Business filed for Chapter 7. Assets: $13,262. Liabilities: $52,049.

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.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.