The following are recent bankruptcy filings in U.S. District Court in Baltimore.
Pasta, Pizza and More Inc., 502 Albemarle St., Baltimore. Food and beverage service filed for Chapter 7. President: Lawrence Corbi. Assets: $5,300. Liabilities: $1,085,662.
Cusimano General Contractors Inc., 1551 Rainbow Plaza, Suite 2B, Chester. Real estate development and construction company filed for Chapter 11. President: Michael J. Cusimano Jr. Assets: $391,000. Liabilities: $350,112.
Cusimano & Sons Inc., 1551 Rainbow Plaza, Suite 2B, Chester. Real estate development and construction company filed for Chapter 11. President: Isabel M. Cusimano. Assets: $1,512,534. Liabilities: $1,552,252.
Katherine D. Niedergesahs (Touch of Class Cleaning Service), 259 Hickory Point Road, Pasadena. Cleaners of residential and commercial properties filed for Chapter 13. Assets and liabilities: $100,000-$499,000.
Thomas J. Brown and Song Ye Brown (Brown's Oriental Grocery), 7942 Trafalgar Court, Severn. Korean Oriental Grocery DStore filed for Chapter 13. Assets: $131,323. Liabilities: $99,934.
Harry Reynolds Roop and Kimberly Marie Roop, 1003 N. Division St., Salisbury. Owners of Kimberly Homes filed for Chapter 7. Assets: $258,853. Liabilities: $320,504.
Advanced Excavation Co. Inc., U.S. 50 and Hess Road, Grasonville. Excavation and grading contractor filed for Chapter 11. President: C. Stuart Kiehne. Assets: $850,000. Liabilities: $1,150,000.
Tom J. Miller, 1000 Main St., Galesville. Market owner filed for Chapter 7. Assets: $1,700. Liabilities: $709,095.
Earl Wortham (Superior Realty Co. and Citation Insurance Agency), P.O. Box 910, Temple Hills. Mr. Wortham filed for Chapter 7. Assets: $159,865. Liabilities: $234,698.
Ter-Lin International Inc., 201 S. Kresson St., Baltimore. Trucking and hauling company filed for Chapter 7. Principal: Terry W. Bosley. Assets: $55,845. Liabilities: $758,170.
Gilbert Michael Feldman and Paula Evelyn Feldman, 9811 Rainleaf Court, Columbia. Seller of delinquent account receivables filed for Chapter 7. No assets. Liabilities: $254,406.
Robert J. Patrick and Mildred M. Patrick, 380 Steven Way, Severna Park. Liquor store filed for Chapter 13. Assets: $359,780. Liabilities: $299,179.
Nicole Ballman, 949 Honeywood Drive, Baltimore. Restaurant owner filed for Chapter 13. Assets and liabilities: Under $50,000.
David A. Sisney and Chun C. Sisney, 253 Brockbridge Road, Laurel. Dry cleaning service filed for Chapter 13. Assets: $12,035. Liabilities: $110,883.
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.