The following are recent bankruptcy filings in U.S...

BANKRUPTCY REPORT

March 30, 1992

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

March 19

Eugene Darnell Boykins (Boykins Fashions), 1615 N. Monroe St., Baltimore. Retailer of clothing and other merchandise filed for Chapter 13. Assets: $47,317. Liabilities: $89,812.

Michael and Sandra Hare (Towson Graphics), 907 York Road, Towson. Printing company filed for Chapter 13. Assets: $18,927. Liabilities: $70,788.

L.R.W. Industries Inc. (Piazzaz), 805 E. Fayette St., Baltimore. Restaurant and bar filed for Chapter 11. Principal: Linda White. Assets: $86,100. Liabilities: $158,058.

Industrial Machine Inc., 6300 Belair Hill Lane, Baltimore. Manufacturer of machine parts filed for Chapter 11. Assets: $1,226,150. Liabilities: $1,254,956.

March 20

Mani Inc. (L'Auberge Restaurant), 505 South Broadway, Baltimore. Restaurant filed for Chapter 11. Principals: Georges Nicholas Chaubron and Janet Marie Chaubron. Assets: $182,670. Liabilities: $134,311.

Edward A. Griffith, 1206 Malvern Road, Ruxton. Real estate business filed for Chapter 11. Assets: $695,500. Liabilities: $2,581,714.

Papier Wallcoverings & Interiors Inc., 114 W. Padonia Road, Timonium. Principals: Gus and John Diakoulas and Joyce Griffith. Retailer of interior design goods and services filed for Chapter 11. Assets: $50,000. Liabilities: $1,122,798.

Washington Properties Limited Partnership, 14 Midvale Road, Baltimore. Real estate investment company filed for Chapter 11. Principal: Peter Savage. Assets and liabilities: More than $100,000.

Arundel Clearing Co. Inc., 923 Jackson St., Annapolis. Landscaping company filed for Chapter 7. President: Lawrence E. Pritchard. No assets. Liabilities: $433,621.

PPB Inc., 1 Railroad Ave., Union Bridge. Concrete structure company filed for Chapter 7. President: Paul George. No assets. Liabilities: $206,586.

Eric Hignutt, R.D. 1. Box 60A, Henderson. Trucking company filed for Chapter 11. No assets. Liabilities: $111,179.

March 24

Charles E. Dean, 2806 Hollins Ferry Road, Baltimore. Real estate rental management company filed for Chapter 13. Assets: $667,507. Liabilities: $385,312.

Richard E. Abramowski (Abe's Place Inc.), 8419 High Ridge Road, Ellicott City. Mr. Abramowski filed for Chapter 7. Assets: Under $50,000. Liabilities: $50,000-$99,000.

March 25

John deRochbrune Wharton, 10501 Longwoods Road, Easton. Excavation and construction company filed for Chapter 7. Assets and liabilities: Under $50,000.

Howard Frederick Kravetz, 1607 Dennis Ave., Towson. Retailer of pizza and balloons filed for Chapter 13. Assets and liabilities: N.A.

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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