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

BANKRUPTCIES

December 21, 1992

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

DECEMBER 10

* Joseph H. Minnick and Faye Naomi Minnick, (Discount Carpets, Corsica Floor Service, Denton Carpet), 126 Kidwell Ave., Centreville. Mr. and Mrs. Minnick filed for Chapter 7. Assets: $11,735. Liabilities: $71,599.

DECEMBER 11

* Donna M. Foxwell (t/a Easton Antiques, t/a DMF Enterprises), 5144 David Green Road, Cambridge. Owner of consignment shop filed for Chapter 7. Assets: $1,616. Liabilities: $78,441.

* Lora Leland Whitelock (t/a Holland's Crossing Lumber), 27019 Holly Ave., Crisfield. Owner of retail lumber business filed for Chapter 7. Assets: $204,504. Liabilities: $281,629.

* Oakland Park Plaza Associates Limited Partnership, (840 Plaza), 4212 Ridge Road, Baltimore. Shop

ping center filed for Chapter 11. Principal: Louis M. Schaefer. Assets: $1,819,822. Liabilities: $3,446,500.

* H&S Associates, a Maryland General Partnership, 4637 Willow Grove Drive, Elliott City. Real estate company filed for Chapter 11. Principal: Drew J. Sikorski. Assets: $2,636,605. Liabilities: $8,517,987.

* Towne South Plaza Ltd., 4212 Ridge Road, Baltimore. Shopping Center filed for Chapter 11. Principal: Louis M. Schaefer. Assets: $3,599,262. Liabilities: $6,582,490.

DECEMBER 14

* Robert D. Powell (t/a G.B. Powell & Son), 166 Raintree Lane, P.O. Box 222, Elkton. Electrical contractor filed for Chapter 13. Assets: Under $50,000. Liabilities: $50,000-$99,000.

Impress Inc., a Maryland Corporation, 9 Shilling Road, Hunt Valley. Printing/duplicating company filed for Chapter 11. Principal: James Ackert. Assets: $190,000. Liabili

ties: $163,000.

DECEMBER 15

* Timothy R. Hearn, 335 Warren Ave., Baltimore. Real estate development company filed for Chapter 7. Assets: $50,000- $99,000. Liabilities: $1,000,000-$9,999,000.

* Hayes F. Diggs Sr. and Patsy T. Diggs, 26892 Plantation Road, Crisfield. Owners of seafood house filed for Chapter 11. Assets: $220,300. Liabilities: $251,218.

* Alan Steven Kessler, #1 Windersal Lane, Baltimore. Mr. Kessler filed for Chapter 11. Assets:$1,212,607. Liabilities: $1,145,991.

* Pronto Press Inc., 700 Reisterstown Road, Baltimore. Printing company filed for Chapter 11. President: Don Moskovitz. Assets: $35,000. Liabilities: $38,094.

DECEMBER 16

* Deborah A. Whittig and Stephen D. Whittig, 218 Armstrong Lane, Pasadena. Owners of air conditioning and heating business filed for Chapter 13. Assets: $212,124. Liabilities: $188,205.

* The following are the most common types of filings under the U.S. Bankruptcy Code.

CHAPTER7 -- 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.

CHAPTER11 -- 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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