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

BANKRUPTCIES

September 27, 1993

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

Sept. 16

* Barbara L. Baker, 700 Crows Court 1-C, Westminster. Principal in retail pet shop filed for Chapter 7. Assets: $14,108.54. Liabilities: $203,545.91.

* John L. McAdory and Mary E. McAdory, 657 Hollywood Road, Severna Park. Principals in real estate business filed for Chapter 7. Assets: $128,450. Liabilities: $276,577.00.

Sept. 17

* Alfred James Buono and Dorothy Regina Buono, 2508 Ebony Road, Baltimore. Self-employed free-lance writer filed as business for Chapter 7. Assets: $7,307.01. Liabilities: $19,880.84.

* Ellen Wolf Kaplan, 3306 Fait Ave., Baltimore. Principal in tax preparation business filed for Chapter 7. Assets: $61,057.00. Liabilities: $71,960.36.

* Wolf Tax Center Inc., 3404 Eastern Ave., Baltimore. Tax center filed for Chapter 7. Assets: $18,365.00. Liabilities: $49,085.21.

Sept. 20.

* Neil Solomon, M.D., 2209 Ken Oak Road, Baltimore. Self-employed physician filed for Chapter 13. Assets: $1 million to $9,999,999.99. Liabilities: $1 million to $9,999,999.99.

* Christopher Joseph Schubert and Constance Jane Schubert, **TC Catalpa Lane, Berlin. Heating and air conditioning contractor filed for Chapter 7. Assets: $8,881.15. Liabilities: $25,550.61.

Sept. 21.

* Turf Tech Ltd., 3 Railroad Ave., Edgewood. Construction business filed for Chapter 7. Assets: $18,776.00. Liabilities: $196,910.87.

* Ellis Burroughs, 2235 W. Lexington St., Baltimore. Principal of auto waxing center filed for Chapter 13. Assets: Less than $50,000. Liabilities: Less than $50,000.

Sept. 23

* Ronald Joseph Lind Jr. and Elizabeth Ann Lind, 427 Wheeler School Road, Pylesville. Principals of retail sales business filed for Chapter 7. Assets: $115,997.12. Liabilities: $170,502.09.

* Geraldine Gizara, 20 Georgetown Court, Annapolis. Massage therapist filed for Chapter 7. Assets: $3,733.73. Liabilities: $28,834.11.

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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 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.

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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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