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

BANKRUPTCIES

March 15, 1993

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

MARCH 4

* Paul Roderick Fox (d/b/a Cleanet), 2814 Roselawn Ave., Baltimore. Principal in cleaning service filed for Chapter 7. Assets: $89,225. Liabilities: $89,566.

* Harold D. Breidstein, 4037 Chatham Road, Ellicott City. Principal in insurance sales business filed for Chapter 7. Assets: $686,450. Liabilities: $1,099,540.

* Raymond Paul Pennoyer and Inez Ivey Pennoyer, 925 Eastham Court, Crofton. General contractor filed for Chapter 7. Assets: $9,955. Liabilities: $84,148.

MARCH 5

* Gary E. Burl and Lucinda L. Burl, 635 Stoney Spring Drive, Baltimore. Principals in Bethany Woods at Bethany Beach, Del., filed for Chapter 7. Assets: $15,820. Liabilities: $113,032.

* Arthur E. Gaddis and Ruby M. Gaddis, 1007A Stepney Road, Aberdeen. Principals in fashion business filed for Chapter 13. Assets: $219,380. Liabilities: $194,436.

* True Green Landscaping Service Inc., 3308 Foxwood Lane, Box 312, Fallston. Landscaping business filed for Chapter 7. President: Charles C. Slade. Assets: $18,594. Liabilities: $216,787.

* Joanna M. Webb, 604 Oakland Hills Drive, Arnold. Title abstracter filed for Chapter 7. Assets: $12,535. Liabilities: $55,895.

* Jeannie Donna Lord (d/b/a Gateway East Restaurant), 5419 N. Skipjack Drive, Cambridge. Principal in restaurant business filed for Chapter 7. Assets: $16,442. Liabilities: $48,822.

MARCH 8

* W. David Pittman Jr. (t/a Share Net Technologies and Share Net Water Services Co.), 12480 Hall Shop Road, Fulton. Principal in home business center filed for Chapter 13. Assets: $500,000. Liabilities: $300,000.

* Douglas A. Nyce, 2214 Geist Road, Glyndon. Developer filed for Chapter 7. Assets: $500,000-$999,000. Liabilities: $10,000,000- $99,999,000.

* Marilyn K. Kramer, 1811 Snow Meadow Lane, Baltimore. Principal in gourmet food sales business filed for Chapter 13. Assets and liabilities: Under $50,000.

* Mark L. Myers, 1745 Forrest Ave., Baltimore. Principal in trucking company filed for Chapter 7. Assets: $5,460. Liabilities: $22,515.

MARCH 10

* George G. Cowman Jr. Inc. A Maryland Corp., 1103 Nicodemus Road, Reisterstown. Construction business filed for Chapter 11. President: George G. Cowman Jr. Assets: $344,575. Liabilities: $658,403.

*

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.

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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