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

BANKRUPTCIES

January 17, 1994

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

JAN. 6

* J. F. Chambliss, d/b/a Jacob Technology, 4405 Maine Ave., Baltimore, filed under Chapter 13 of the federal Bankruptcy Code. Principal: Jacob Fitzgerald Chambliss. Assets: $174,420. Liabilities $114,582.

JAN. 7

* Data Liquor Systems Inc., 7451 Race Road, Hanover, computer scanning systems seller, filed under Chapter 7. Principal: Lee W. Murray, president. Assets: $2,530. Liabilities: $347,450.

*

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.

CHAPTER 11 -- Reorganization. Available to individuals or businesses, this chapter is intended primarily to allow a business to restructure its debt.

CHAPTER 13 -- Adjustment of debts of an individual with regular income.

*

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.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.