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

BANKRUPTCIES

November 02, 1992

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

OCTOBER 22

* Dwayne R. Gaither, (d/b/a Gaither Trucking Co.), 10 Hickory Ridge Court, Baltimore. Trucking company filed for Chapter 13. Assets: $92,948. Liabilities: $128,166.

OCTOBER 23

* Sicca Painting Co. 2311 Dunwood Lane, Joppa. Commercial and residential painting business filed for Chapter 7. Assets: $4,625. Liabilities: $150,054.

* Ink & More Inc., 401 Headquarters Drive, Millersville. Printing

business filed for Chapter 11. Assets: $108,000. Liabilities: $244,619.

OCTOBER 26:

* Dennis L. Mathews 7 Willow Avenue, Towson. Construction business filed for Chapter 7. Assets: $50,000 to $99,000. Liabilities: $100,000 to $499,000.

* Vinan Group Inc./Brocato's Restaurant 7717 Eastpoint Mall, Baltimore. Restaurant filed for Chapter 7. Assets: under $50,000. Liabilities: under $50,000.

* R.V. International Inc. 121 Revell Highway, Annapolis. Recreational vehicle rental business filed for Chapter 11. Assets: $3,000. Liabili

ties: $1,000,000.

OCTOBER 27:

* James V. McFaul III. (d/b/a Precision Tile and Marble). 206 Duryea Drive, Joppa. Tile and marble company filed for Chapter 7.

* Richard Kevin Towers and Vicki Lynn Towers. (d/b/a Hoagie House) 105 Vernon Ave., Federalsburg. Sub shop filed for Chapter 7.

* The following are the most common types of filings under the 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.

d/b/a (doing business as) or t/a (trading as): an assumed name a person uses for a business instead of the actual business name or one's personal name.

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