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


April 19, 1993

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


* Harold W. and Lissa R. Dalton (Captain Earl's Crabhouse), 1301 Black Walnut Court. Annapolis. Principals in retail/wholesale business filed for Chapter 13. Assets: $208,270. Liabilities: $202,433.


* Helen K. Bollinger, 1131 Linden Ave. Baltimore. Principal in sheet metal and roofing business filed for Chapter 13. Assets: $91,106. Liabilities: $227,687.

* John L. and Carole A. Biggs, 2024 Armco Way. Baltimore. Principals in carpet-installation business filed for Chapter 13. Assets: Less than $50,000. Liabilities: Less

than $50,000.


* Otter Bay Inc. (Seatscapes), Route 18, Red Apple Plaza. Chester. Retail/wholesale furniture business filed for Chapter 7. President: Michael Phelps. Assets: Less than $50,000. Liabilities: * 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 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 instead of the business name or one's personal name.

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