The following are recent bankrupt cy filings in U.S...

BANKRUPTCIES

September 28, 1992

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

SEPTEMBER 17

* Carl Eugene Blubaugh and Christine Dora Blubaugh jTC (Blubaugh's Transport Service), 1901 Harbinger Trail, Edgewood. Transportation business filed for Chapter 11. Assets: Liabilities: $160,394.

* The Highland Millwork Co. Inc., 6268 Preston Court, Jessup. Manufacturer of architectural millwork and store fixtures filed for Chapter 11. President: Gerald J. Dzurek. Assets: $100,000- $499,000. Liabilities: $3,000,000.

* Professional Auto Accessories Inc., 2550 Bachman Valley Road, Manchester. Automobile repair and service company filed for Chapter 7. President: Galen Walters. Assets: $15,200. Liabilities; $23,895.

* James Richard D'Anthony Sr. and Patricia Ann D'Anthony, 3891 Gamber Road, Finksburg. Mr. and Mrs. Anthony filed for Chapter 7. Assets: $239,130. Liabilities: $408,439.

* Jimmy Lynn Jackson Sr. and Betty Rae Jackson (Jim's Citgo), 100 Spready Oak Road, Rising Sun. Owner of service station filed for Chapter 7. No assets. Liabilities: 235,282.

SEPTEMBER 18

* James M. McCue (Double J. Photos), 3518 Argus Valley Trail, Ellicott City. Photography business filed for Chapter 7. Assets: $42,511. Liabilities: $264,172.

* Everett S. Watts (A to Z Truck Tire Repair), 8545 Pulaski Highway, Lot 12, Baltimore. Owner of truck repair business filed for Chapter 7. Assets: 7,800. Liabilities: $24,074.

SEPTEMBER 21

* C.I. Films Ltd., 5645 Bellevue Road, Royal Oak. Relicensing company for programs to Eastern Europe filed for Chapter 7. Assets: $7,001. Liabilities: $144,273.

SEPTEMBER 22

* Rodney William Lewis and Barbara Thompson Lewis, P.O. Box 1063, Easton. Seafood restaurant filed for Chapter 7. Assets: $19,153. Liabilities: $315,548.

SEPTEMBER 23

* Kenneth Wayne Swiger (Wayne Austin Construction), 3849 Watersville Road, Mount Airy. Mr. Swiger filed for Chapter 7. Assets: Under $50,000. Liabilities: $100,000-$499,000.

* Todd G. Still, 2107 Bolton St., Baltimore. Owner of promotions business filed for Chapter 7. Assets: $2,270. Liabilities: $36,080.

* John A. Johnson, 15308 Hanover Pike, Upperco. Owner of auto body shop filed for Chapter 7. Assets: $9,300. Liabilities: $10,320.

* John W. Schroers Jr. and Joan M. Schroers, 4010 Ocean Pines, Berlin. Construction business filed for Chapter 7. Assets: $159,585. Liabilities: $283,224.

Kendall Enterprises Inc., 221 Fifth Ave. S.E., Glen Burnie. Land development and construction business filed for Chapter 7. Assets: $250,000. Liabilities: $400,000.

* Ronald Eugene Mills, Route 1, Box 644, Salisbury. Repairer and installer of satellite systems filed for Chapter 7. Assets: $101,032. Liabilities: $147,243.

* Lawrence J. Serra and Deborah F. Serra, P.O. Box 323, Phoenix. Construction business filed for Chapter 11. Assets and liabilities: $500,000-$999,000.

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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