The following are recent bankruptcy filings in U.S. District Court in Baltimore.
Peter A. and Carolyn M. Zukoski (Carey Miller), 28597 Sanderstown Road, Trappe. Farrier filed for Chapter 7. Assets: $79,372. Liabilities: $375,391.
Linda Lynn of Baltimore Inc., 207 W. Clay St., Baltimore. Retail clothing store filed for Chapter 7. Principal: Arthur Diamand. Assets: $100,000-$499,999. Liabilities: $500,000-$999,999.
Lloyd Cedric Johnson, 3 Woodthorn Court, Owings Mills. Construction business filed for Chapter 7. Assets: $550. Liabilities: $28,840.
Shook Excavating & Hauling Inc., 18828 Lappans Road, Baltimore. Excavating and hauling company filed for Chapter 11. Principal: William B. Shook. Assets: $315,000. Liabilities: $370,610.
Creative Medical Management Inc. (Medcare Plus), 7531 Assateague Drive, Jessup. Medical clinic management company filed for Chapter 7. Principal: Ronald G. Thomas. Assets: $10,000. Liabilities: $150,000.
George Roland Ritter III, 1170 Booth Bay Harbour, Pasadena. Provider of boat repair services filed for Chapter 13. Assets: $4,989. Liabilities: $102,492.
Caldwell Casting Co. Inc., 2 Washington St., Cambridge. Manufacturing and mining company filed for Chapter 11. Principal: Vernon Caldwell. Assets: $362,881. Liabilities: $668,450.
William R. Engle, 204 East Joppa Road, Towson. Roofing contractor filed for Chapter 7. Assets and liabilities: Under $50,000.
Thomas T. Austin Jr., Route 4, Box 443, Centreville. Transportation business filed for Chapter 7. Assets: $247,630. Liabilities: $319,513.
Dooley's Roofing and Construction Co. Inc., 2608 Pennsylvania Ave., Baltimore. Residential and commercial roofing company filed for Chapter 7. Principal: Robert Dooley. Assets: $2,350. Liabilities: $114,140.
Donn Grove (Blue Water Construction), 1616 Chester Road, Chester. Construction contractor filed for Chapter 13. Assets and liabilities: $100,000-$499,000.
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.