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

BANKRUPTCIES

November 16, 1992

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

OCTOBER 30

* Louis A. Pleet (d/b/a Com-pleet Video), 6233 Oak Hill Drive, Sykesville. Filed for Chapter 13. Assets and liabilities: Between $100,000 and $499,999.

* Dolphin Corp. Inc. (d/b/a Crab Net Restaurant), 7703 German Hill Road, Baltimore. Restaurant filed for Chapter 7. President: Linwood Brice. Assets and liabilities: Under $50,000.

* Delta Air Conditioning Inc., West Maple Road, Linthicum Heights. Air conditioning service contractor filed for Chapter 11. President: Robert Schwartz. Assets: $225,000. Liabilities: $475,000.

NOVEMBER 2

* Andrew U. Grant, 8707 Teresa Lane, Laurel. Transportation/dump truck business filed for Chapter 7. Assets: $7,500. Liabilities: $40,113.

* Larry Thomas Maxwell, 718 214th St., Pasadena. Power washing business filed for Chapter 7. Assets: $3,850. Liabilities: $7,744.

* Joseph Ferraracci, 710 Willowdale Ave., Baltimore. Retail/wholesale auto parts company filed for Chapter 7. Assets: $95,900. Liabilities: $85,721.

* Shelley L. Mioles and Clark V. Moiles Jr., 1118 Carrs Mill Road, Bel Air. Owners of trucking business filed for Chapter 11. Assets

and liabilities: $100,000-$499,000.

* Furniture Rentors of America Inc., 1709 Reisterstown Road, Baltimore. Rental business filed for Chapter 11. President: James D. Senker. Assets: $2,605,544. Liabilities: $1,633,107.

NOVEMBER 3

* Salisbury Associates Limited Partnership (Salisbury Associates), 2015 Industrial Parkway, Salisbury. Partnership filed for Chapter 11. General partner: Michael D. Parker. Assets and liabilities: $1,000,000-$9,999,000.

NOVEMBER 5

* Grey Rock Inc., 113 Old Padonia Road, Suite 200, Cockeysville. Developer and builder of townhouses and condominiums filed for Chapter 11. President: John Dorment. Assets: $14,500,000. Liabilities: $15,556,249.

* Bruce B. Buck and Beverly A. Buck, 8023 Duvall Ave., Baltimore. Day care business filed for Chapter 13. Assets: $167,275. Liabilities: $132,665.

* Buffalo Tank Corp. of Delaware, 1920 Frankfurst Ave., Baltimore. Producer of underground tanks. Involuntary petition for Chapter 7 filed by Purnell C. Johnson for $13,725; Stanley E. Gregory for $16,347; and McKinley Ponder for $45,019.

NOVEMBER 6

* Monkton Mechanical Systems Inc., 5 Lloyd St., Baltimore. Construction/mechanical contracting company filed for Chapter 11. President: Gary S. Reif. Assets: $188,825. Liabilities: $549,742.

* Ronald Gorman Frank and Valerie Leigh Frank, 3523 Prospect St., Street. Owners of landscaping business filed for Chapter 7. Assets: $3,562. Liabilities: $23,625.

* Forest T. Roser Jr. (d/b/a Roser Variety Store), 6750 Middleburg Road, Keymar. Mr. Roser filed for Chapter 7. Assets and liabilities: Under $50,000.

* Abdul Munir Chaudhry and Bushra Munir Chaudhry (d/b/a Pizza Calzone's), 6863 Queens Ferry Road, #G, Baltimore. Pizza shop filed for Chapter 13. Assets and liabilities: Under $50,000.

NOVEMBER 9

* Timothy Karwell Williams and Zenida M. Williams, 2416 Forrest Hill Road, Marriottsville. Optical retailer of a Pearle Vision Center Franchise (Williams & Williams Optical Inc.) filed for Chapter 13. Assets: $194,724. Liabilities: $177,729.

NOVEMBER 10

* Gregory Scott Bengough and Donna M. Bengough (d/b/a Ultimate Video), 3311 Toone St., Baltimore. Owners of video store filed for Chapter 7. Assets: $2,552. Liabilities: $20,799.

* George W. Weber Jr., 26971 Miles River Road, Easton. Contractor filed for Chapter 7. Assets: $14,179. Liabilities: $26,554.

* Harriette Haymaker Lewis, Route 11, Box 1486, Salisbury. Owner of arts and crafts business filed for Chapter 7. Assets: $23,117. Liabili

ties: $53,314.

* Donald Lee Feller, 7421 Whiton Road, Snow Hill. Owner of landscaping business filed for Chapter 7. Assets: $5,065. Liabilities: $51,704.

* B&G Vending Co. Inc., 1700 Hill Drive, Baltimore. Food vending business filed for Chapter 7. President: Esther Fox. Assets: $132,200. Liabilities: $258,640.

*

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.

*

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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