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


February 15, 1993

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

FEB. 4

Booker Transportation Co. Inc., A Maryland Corp., 3000 Ridgewood Ave., Baltimore. Provider of bus and van transportation services filed for Chapter 11. President: Inell Booker. Assets: $300,000. Liabilities: $709,459.

FEB. 8

Scott's Level Apartments, A Maryland General Partnership, (Owings Chase Apartments), 1626 Locust St., Philadelphia. Principal assets located at 4607 C Old Court Road, Pikesville. Owner and operator of residential apartment building filed for Chapter 11. (Transferred from Philadelphia) Principal: Albert Eisen. Estimated assets: $9,384,695. Liabilities: $10,761,870.

Joseph P. Brown Jr. (d/b/a Chubby's Dairy Bar), 99 Baltimore Ave., Baltimore. Principal in soft ice cream business filed for Chapter 13. Assets and liabilities: N.A.

FEB. 10

Johnson Litho Inc., A Maryland Corp. , 1220 Ridgely St., Baltimore. Printing, reproduction, graphic arts company filed for Chapter 7. President: Mary Jane Spurry. Assets: $313,804. Liabilities: $530,722.

* Shinco Food Inc. (L.B. Treates), 10 N. Calvert St., L. Level, Baltimore. Restaurant filed for Chapter 7. President: Young M. Shin. Assets and liabilities: $100,000-$499,000.

* 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.

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 person uses for a business instead of the actual business name or one's personal name.

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