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

BANKRUPTCIES

June 14, 1993

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

June 3

* Matthew L. Cooper and Mary J. Cooper, 777 MacSherry Drive, Arnold. Principals in children's retail/wholesale clothing business filed for Chapter 7. Assets: $134,128. Liabilities: $216,416.

June 4

* Price Rite Supermarkets Inc., 1720 E. Lombard St., Baltimore. Supermarket filed for Chapter 11. Chairman, board of directors: Leonard Friedman. Assets: $200,000. Liabilities: $700,000.

June 7

* Charles Street Cheese & Steak Inc., 304 N. Charles St., Baltimore. Restaurant business filed for Chapter 11. Director: Jonathan M. Yuspa. Assets: $35,300. Liabilities: $79,575.

June 8

* HTS Risk Management Services Inc., 9017 G Mendenhall Court, Columbia. Environmental audit business filed for Chapter 11. President: Joseph E. Manduke III. Assets: $1,049,684. Liabilities: $966,544.

* Abolghasem Kamalvand, 6107 B Heritage Hill Drive, Glen Burnie. Principal in greeting card business filed for Chapter 7. Assets: $5,834. Liabilities: $24,223.

June 9

* Harundale Family Dental Center, 238 Harundale Mall, Glen Burnie. Dentistry business filed for Chapter 11. President: Paul Miller. Assets: $110,050. Liabilities: $254,890.

The Kitchenry, 11438-C Cronridge Drive, Owings Mills. Kitchen design, sales and installation business filed for Chapter 7. President: F. Edmund Sutton. Assets: under $50,000. Liabilities: $100,000-499,000.

* Robert A. Moylan, 9275 Baltimore National Pike, Ellicott City. Principal in electronics retail/wholesale business filed for Chapter 11. Assets: $2,795. Liabilities: $99,651.

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 regula 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.

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.