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

BANKRUPTCIES

December 27, 1993

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

DEC. 15

* Donald F. Dove, 1018 Magothy Ave., Arnold, real estate broker and developer, has filed for Chapter 11. Assets: $350,000. Liabilities: $430,000.

* Wellspring Nursing Center, 7355 Furnace Branch Rd. East, d/b/a Arundel Geriatric & Nursing Center, Inc., has filed for Chapter 11. Assets: $1 million. Liabilities: $2 million.

DEC. 16

Select Fire Inc., 115-C Holsum Way, Glen Burnie, a dealer in firearms and related supplies. A creditor has filed to place the company into Chapter 7 bankruptcy. The principal was not named. Assets: n/a; Liabilities: $5,070.

DEC. 17

* Shannon's Sunpaper Service Inc. of 8736 Meadow Heights Road, Randallstown, a newspaper distribution company, has filed Chapter 13. Principal: Rodney Michael Shannon. Assets: $121,150; Liabilities: $135,674.10.

* Taylor Graphics of 961 Bennett Point Road in Queenstown has filed under Chapter 7. Principals: John C. and Cheryl June Taylor. Assets: $31,636.50; Liabilities: $616,053.29.

* Dare Inc., Box 584, Westminster, a construction company, filed Chapter 11. Principal: Edmund N. Baxter, president. Assets: $3,091,500; Liabilities: $2,354,232.04.

DEC. 20

* Nurses Uniform Co., Inc., a specialized clothing company at 1141 Fillmore St., Baltimore, has filed under Chapter 7. Principal: Charles J. Weissfeld, president. Assets: $8,891.55; Liabilities: $57,038.78.

DEC. 21

* Brent-Tech Co., Inc., 4004 E. Monument St., Baltimore, a contractor has filed under Chapter 7. Principal: Gordon P. Hall, president. Assets: under $50,000; Liabilities: under $50,000.

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.

*

n/a (not available), a.k.a. (also known as), d/b/a (doing business 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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