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

BANKRUPTCIES

August 16, 1993

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

5/8

Aug. 6

* Andrey Pinchuk, 10 Second Tee Court, Baltimore. Taxi driver filed for Chapter 13. Assets: $150,700. Liabilities: $133,608.

Aug. 9

* Melba Denise Gross, 1512 Burnwood Road, Baltimore. Principal in merchant/hair dressing business filed for Chapter 7. Assets: $58,125. Liabilities: $73,873.

* Harts Market Inc., 12546-550 Eastern Ave., Chase. Retail/wholesale grocery store filed for Chapter 7. President: Linda Woodard-Hart. Assets: $18,300. Liabilities: $207,724.

* Ray Martin Williams and Barbara Jean Williams, 1740 Patapsco St., Baltimore. Owners of tavern filed for Chapter 7. Assets: under $50,000. Liabilities: $50,000-99,000.

Aug. 10

* Mary L. Dosch, 2216 Ridgemont Drive, Finksburg. Principal in restaurant/bar business filed for Chapter 7. Assets: $10,845. Liabilities: $198,452.

Aug. 11

* Anthony J. Raymond and Carol Ann Raymond, 3672 Double Rock Lane, Baltimore. Principals in catering business filed for Chapter 13. Assets: $91,820. Liabilities: $138,910.

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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.

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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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