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

BANKRUPTCIES

April 26, 1993

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

APRIL 15

* Metropolitan Realty Inc., 1 E. Chase St., Baltimore. Real estate business filed for Chapter 11. Vice president and secretary: Dion Dorizas. Assets: $800,000. Liabilities: $606,194.

APRIL 19

* Larry E. Knight Inc., 12200 Glynowings Drive, Glyndon. Principal in manufacturing/construction business filed for Chapter 11. President: Larry E. Knight. Assets: $2,092,305. Liabilities: $1,289,008.

* William A. Kirkendall and Joan Kirkendall, 614 W. 34th St., Baltimore. Principals in house painting business filed for Chapter 7. Assets: $9,505. Liabilities: $47,000.

APRIL 20

* Barclay Square Associates Ltd. Partnership, 9515 Deereco Road, Suite 514-B, Timonium. Real estate business filed for Chapter 11. Partner: David L. Woody. Assets: $2,850,000. Liabilities: $3,282,593.

* Adam D. Goldsmith and Chris M. Goldsmith, 9121 Tymat Court, Laurel. Principals in electrical contracting business filed for Chapter 7. Assets: $11,757. Liabilities: $190,619.

APRIL 21

* Sharpel Properties Inc., 923 Sevarden Road, Crownsville. Residential construction business filed for Chapter 11. President: Sharon A. Peltz. Assets: 0. Liabilities: $467,600.

* Herbert Barry Wilen, 18 Eastern Ave., Annapolis. Mr. Wilen, a professional consultant, filed for Chapter 7. Assets: $452,121. Liabilities: $989,462.

* JFM Leasing, 614 Burnside St., Annapolis. Joseph F. McDermott Jr., principal in leasing business, filed for Chapter 7. Assets: $372,097. Liabilities: $1,786,345.

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 ob

jects 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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