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

BANKRUPTCIES

December 07, 1992

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

NOVEMBER 20

* R. Water & Associates, 1 Cashell Court, Baltimore. Principal: Rodney C. Waters Sr. Company filed for Chapter 7. Assets and liabilities: Under $50,000.

NOVEMBER 25

* Margaret G. Turner, 556 Mayo Road, Edgewater. Owner of flower shop filed for Chapter 13. Assets: $158,099. Liabilities: $129,579.

* Earl E. Brown and Johnnie M. Brown, 1407 Peachwood Lane, Bowie. Dentist filed for Chapter 13. Assets: $15,396. Liabilities: $144,079.

* Wood Communications Inc., 7402 York Road, Suite 301, Towson. Message center filed for Chapter 11. President: E. Sharon Wood. Assets: $25,250. Liabilities: $78,906.

NOVEMBER 27

* Wayne Eugene Truitt and Della Ann Truitt, 10137 Beaver Dam Road, Berlin. Farmer filed for Chapter 11. Assets: $154,903. Liabilities: $459,461.

* Jon Mark Hendrickson and Kerry Jill Hendrickson, 4206 Connecticut Ave., Baltimore. Business filed for Chapter 7. Assets: $82,708. Liabilities: $151,869.

* Craig H. Robinson and Connie Robinson, 2140 Sagebrush Court, Sykesville. Business filed for Chapter 7. Assets: $174,663. Liabilities: $243,259.

NOVEMBER 30

* M.P.S. Inc., 4043 Federal Hill Road, Jarrettsville. Real estate holding business filed for Chapter 11. President: Lynn Dolan Marcum. Assets: $440,516. Liabilities: $417,688.

* Mark B. Cornacchione, 1300 Dalton Road, Baltimore. Owner of cleaning, general maintenance and music business filed for Chapter 7. Assets: $9,287. Liabilities: $22,909.

DECEMBER 1

* Severna Park Mall Associates, 9 Serpentine Court, Silver Spring, c/o Capital Management. Owner of shopping mall in Anne Arundel County filed for Chapter 11. Managing general partner: Thomas P. Turchan Jr. Assets: $10,000,000-$99,000,000. Liabilities: $1,000,000-$9,999,000.

* C/A Automotive Parts Inc. (Coleman Automotive Parts Inc.), 6325 D Washington Blvd., Baltimore. Seller of auto parts filed for Chapter 7. Assets: $19,329. Liabilities: $144,580.

* Michael Ollie Mumford (t/a Mumford Development, Uncle Ollie's), 128 East of Sun, Fenwick Island, Del. Real estate development business filed for Chapter 7. Assets: $18,000. Liabilities: $356,549.

* Otis Jackson (t/a Brock-Adams), 9712 Marriottsville Road, Randallstown. Fuel oil and dump truck business filed for Chapter 7. Assets: $221,788. Liabilities: $240,772.

* Jeffrey Francis Taliaferro and Ann Douglas Taliaferro, 12-2 Silverwood Circle, Annapolis. Delivery service and nutrition supplement business filed for Chapter 7. Assets: $53,353. Liabilities: $135,044.

DECEMBER 2

* Russell Patrick McCarty and Sharon Anne McCarty, 5400 Valley View Court, Mount Airy. Electrical contracting business filed for Chapter 7. Assets: $50,000-$99,000. Liabilities: $100,000- $499,000.

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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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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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