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

BANKRUPTCIES

January 10, 1994

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

DEC. 30

* Tri-State Trucking Company Inc., P.O. Box 188, Federalsburg, transportation firm filed under Chapter 7. Principal: Michael Dew, president. Assets and liabilities both between $1 million and $10 million.

* Crouch Concrete Inc., 200 Francis Dr., Salisbury, filed for Chapter 7. Assets: $8,309.11. Liabilities: $39,159.91.

* Robert W. Jacobson, 703 Radcliffe Ave., St. Michaels, d/b/a R. W. Jacobson Co. Inc., a commodity broker, filed for Chapter 7. Assets: $171,934.04. Liabilities: $239,072.51.

JAN. 3

* M. S. Yeatman Inc., 204 Audrey Ave., Baltimore, a wholesale fruit and produce company, filed for Chapter 7. Assets: $4,660. Liabilities: $68,601.31.

JAN. 4

* Kenneth Marriel Coleman, 4927 Old Court Rd., Randallstown, d/b/a Kenneth M. Coleman Properties and Kenneth Coleman Contractors, real estate and rental property management firms, filed for Chapter 11. Assets: $1 million to $10 million. Liabilities: $100,000 to $499,000.

JAN. 5

* N.R.D. Foods, 730 Earlton Road, Havre De Grace, t/a Bonanza Family Restaurant, Bell's Country Kitchen and Sassy's Family Style Buffet, filed for Chapter 7. Liabilities: $1 million to $10 million.

*

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.

*

a.k.a. (also known as), 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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