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

BANKRUPTCIES

February 22, 1993

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

FEB. 11

* Jesse Carter (t/a Carter Concrete), 2617 Loyola Southway, Baltimore. Mr. Carter filed for Chapter 7. Assets: $1,000. Liabilities: $52,032.

* B&B Discount Carpet/Appliances Inc., 505 Race St., Cambridge. Carpet and appliance wholesaler filed for Chapter 7. Vice president: Robert Peters. Assets: $2,531. Liabilities: $69,016.

* William E. Lutz, 658 Brenda Land, Aberdeen. Principal in a restaurant filed for Chapter 7. Assets: $5,416. Liabilities: $14,777.

* Greater Towson Enterprises Inc., 11435 Cronhill Drive, P.O. Box 70, Owings Mills. Leasing business filed for Chapter 11. President: James W. Vitale. Assets: $44,000.

Liabilities: $465,469.

* Jason Pharmaceuticals Inc., 11435 Cronhill Drive, P.O. Box 370, Owings Mills. Manufacturer and distributor of Medifast weight loss products filed for Chapter 11. President: James W. Vitale. Assets: $4,550,000. Liabilities: $4,149,406.

FEB. 12

1/8 * Jones Minority Services Inc., 6350 Stahl Point Road, Baltimore. Hauling business filed for Chapter 11. President: Carol D. Jones. Assets: $445,111. Liabilities: $498,673.

* Dale Harlan Miller (Dale Miller Construction), 6588 Ocean Pines, Berlin. Custom home builder filed for Chapter 7. Assets: $6,443. Liabilities: $96,416.

* Dolores Seiger, 5 Pomona West, Apt. 3, Baltimore. Principal in

Gene's Express Transport Inc. filed

for Chapter 7. Assets: $1,843. Liabilities: $97,131.

FEB. 16

1/8 * Michael S. Minietta and Peggy A. Minietta (t/a Minietta Homes), Lot 2, Hunters Ridge, Dulin Clark Road, Centerville. Principals in construction business filed for Chapter 7. Assets: $176,800. Liabilities: $304,103.

* Frank John Schmidt, 9047 Allenswood Road, Randallstown. BConsultant filed for Chapter 13. Assets and liabilities: $100,000- $499,000.

* Eastern Air Control Inc., 2387 Crow's Nest Lane, Ocean Pines, Berlin. Mechanical contractor filed for Chapter 7. President: N. Joseph Costanzo. No assets. Liabilities: $504,944.

* Antonio Michael Wood, 2329 E. Oliver St., Baltimore. Principal in jewelry business filed for Chapter 7.

Assets: $10,126. Liabilities: $32,512.

FEB. 17

1/8 * Mary Louise Wilder, 1403 John St., Baltimore. Principal in children's clothing store filed for Chapter 7. Assets: $93,900. Liabilities: $89,231.

* Michael Myron Whitehead Sr., 16 Deep Spring Court, Reisterstown. Principal in plumbing business filed for Chapter 7. Assets: $82,193. Liabilities: $108,416.

* Ronald W. Mayton and Dana D. Mayton, 8068 Phirne Road E, Glen Burnie. Cable TV subcontractor filed for Chapter 7. Assets: $4,241. Liabilities: $38,109.

*

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

RD

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 debtors to repay creditors 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): a name a person uses instead of the actual business name or one's personal name.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.