Bankruptcies

November 08, 1993

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

OCT. 26

* The Printery Inc., 800 Snow Hill Road, Salisbury, a retail/wholesale printing company, has filed for Chapter 11. Principal: J. Randall Haney, president. Assets: $366,874. Liabilities: $512,000.

NOV. 1

* Walther Management Inc. (a.k.a. WMI), 10400 Gormon Road, Laurel, a management firm, filed for Chapter 7. Principal: William R. Walther Jr., president. Assets: None. Liabilities: $37,162.74.

* Autotek Systems Inc. (a.k.a. The Brake Shop), 320 D Baltimore Pike, Bel Air, an automobile brake repair facility, filed under Chapter 9. Principal: Steven R. Hayes, president. Assets: under $50,000. Liabilities: over $100,000.

NOV. 3

* Sagar Inc, (a.k.a. Apna Bazaar), 5908 Charles St., Baltimore, a retail merchandise outlet, has filed under Chapter 7. Principal: Rajinder Sagar. Assets: $28,290.08. Liabilities: $30,583.15.

The following are the most common types of filings under the U.S. Bankruptcy Code.

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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