The following are recent bankruptcy filings in U.S. District Court in Baltimore.
SCF Decks Inc., a Pennsylvania Corp., 1901 Halethorpe Ave., Baltimore. Commercial and industrial contracting company filed for Chapter 11. President: B. Max Hargett Jr. Assets: $598,500. Liabilities: $1,517,248.
William Carvel Davis Jr., 4 Whitelaw Place, Apt. T-C, Baltimore. Owner of retail menswear store filed for Chapter 7. Assets: $7,030. Liabilities: $92,316.
Denis M. Radford and Lynda E. Radford, Route #1, Box 7, Centreville. Owners of landscaping company filed for Chapter 7. Assets: $2,425. Liabilities: $30,915.
Patriott Inns International Inc., 24 W. Franklin St., Suite 102, Baltimore. Hotel/motel management company filed for Chapter 11. President: Lee Bell. Assets: $95,000. Liabilities: $69,000.
Leidig's Bakery Inc. (Leidig's Bakery and Baking by Leidig's), 8775 Cloud Leap Court, Columbia. Retail bakery filed for Chapter 11. President: Daniel N. D'Alonzo. Assets: $96,000. Liabilities: $236,117.
Thomas L. Thompson (Omega Enterprises and Ability Discovery Counselling), 6 E. Read St., Baltimore. Counselor filed for Chapter 7. Assets: $11,241. Liabilities: $169,148.
Timothy DiRocco and Kerri Lynn DiRocco (T&D Painting), 37 Franklin Drive, Port Deposit. Mr. and Mrs. DiRocco filed for Chapter 7. Assets: $93,799. Liabilities: $166,077.
2000 Carpet Corp., c/o Farshid H.N. Nazary, 264 Laguna Circle, Severna Park. Carpet sales company filed for Chapter 7. President: Farshid H.N. Nazary. No assets. Liabilities: $109,833.
Baltimore Mechanical Services Inc., 7 Carlvon Road, Owings Mills. Mechanical contracting company filed for Chapter 11. President: Glenn A. Haslam. Assets: $1,419,010. Liabilities: $1,600,000.
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.