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

BANKRUPTCIES

September 21, 1992

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

SEPTEMBER 10

* D&D Builders Inc. filed for Chapter 7. No other information was available.

SEPTEMBER 11

* Samuel S. Johnston Jr. and Tammy K. Johnston (Johnston's Upholstery Shop), 9803 Langs Road, Apt. H. Owners of upholstery shop filed for Chapter 7. Assets: $10,482. Liabilities: $38,223.

* Atmans Gold Inc., 1900 Lang Road, Hampstead. Ballroom dance studio filed for Chapter 7. President: Marilena O'Connor. No assets. Liabilities: $3,510.

* Rayman, Martin & Fader Inc., 3920 Vero Road, Suite B, Baltimore. Drywall subcontractor filed for Chapter 11. President: Louis Rayman. Assets: $1,169,001. Liabilities: $2,353,579.

* Astro Sheet Metal Inc., 2700 North Point Blvd., Baltimore. Sheet metal fabrication business filed for Chapter 11. President: George Demetrides. Assets: $765,000. Liabilities: $860,000.

SEPTEMBER 14

* Dennis Mark Rogers, 65 George Road, Pasadena. Owner of restaurant and lounge filed for Chapter 13. Assets: $233,808. Liabilities: $223,207.

* Robert J. Capallo, 9823 Shadycreek Way, Baltimore. Carpenter filed for Chapter 7. Assets: $116,641. Liabilities: $153,037.

* Chester Matthew Sebald, 6408 Centennial Place, Apt. D., Glen Burnie. Owner of limousine service filed for Chapter 7. Assets: $11,875. Liabilities: $142,250.

* Autumn Gardens Inc., 3313 Poplar St., Baltimore. Nursing home filed for Chapter 7. Principals: Wallace M. Dow, Jerald Jordan and Lois McGovern. Assets: $400,000. Liabilities: $415,082.

SEPTEMBER 15

* Robert Allan Shaffer Jr. (Shaffer Tools), 721 Horpel Drive, Mount Airy. Tool seller filed for Chapter 13. Assets and liabilities: $100,000-$499,000.

* Chandra Felecia Bull (Simply Marvelous), 211 E. Biddle St., Baltimore. Owner of hair salon filed for Chapter 7. Assets: $7,617. Liabilities: $41,017.

* Metal-Tech Engineering Inc., Westminster Trade Center, 150 Airport Drive, Suite 1, Westminster. Manufacturing/mining business filed for Chapter 7. Principal: Howard Chris Russo. No assets. Liabilities: $80,946.

SEPTEMBER 16

* Natel Inc., 9160 Red Branch Road, Suite W-5, Columbia. Telecommunications carrier and provider of computer services filed for Chapter 7. President: Samuel S. Yoo. Assets: $37,000. Liabilities: $714,487.

* Lawrence A. Sciscenti and Cindy E. Sciscenti, P.O. Box 162, Glen Burnie. Locksmith filed for Chapter 7. Assets: $212,957. Liabilities: $587,674.

* Murphy Realty Inc., 2439 Maryland Ave., Baltimore. Real estate management company filed for Chapter 7. President: Ruth Murphy. Assets: $25,000. Liabilities: $150,000.

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.

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