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

BANKRUPTCIES

September 13, 1993

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

Sept. 2

* Todd R. Beehm and Darlene L. Beehm, 54 George St., Taneytown. Principals in cleaning business filed for Chapter 7. Assets: $17,725. Liabilities: $51,949.

* Bowden's Family Restaurant Inc., 9913 Old Ocean City Blvd., Berlin. Restaurant business filed for Chapter 11. President: Thomas C. Bowden. Assets: under $50,000. Liabilities: $100,000- * Fortune Personnel Inc., 8815 Centre Park Drive, Columbia. Executive placement business filed for Chapter 7. President: Robert E. Walton Jr. Assets: $287. Liabilities: $87,469.

* Adam C. Helmick, 6027 Fairfield Lane, Eldersburg. Principal in lawn care business filed for Chapter 7. Assets: $3,275. Liabilities: $83,856.

Sept. 3

* Robert B. Feeney, 1058 Saybrook Harbour, Pasadena. Principal in transportation business filed for Chapter 7. Assets: $3,130. Liabilities: $135,426.

Sept. 7

* Howard Cephas Presberry Jr. and Virginia D. Presberry, 1644 Meadowood Court, Edgewood. Principals in construction business filed for Chapter 7. Assets: $3,361. Liabilities: $65,553.

Sept. 8

* Associated Yacht Inc., P.O. Box 127, Stevensville. Yacht brokerage business filed for Chapter 7. President: John Regan. Assets: $0. Liabilities: $124,945.

* Michael J. McHale, 6 Buttrick Court, Lutherville. Principal in retail/wholesale golf equipment business filed for Chapter 7. Assets: $12,261. Liabilities: $377,036.

*

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 a 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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