These are recent bankruptcy filings in U.S. District Court...

BANKRUPTCIES

January 31, 1994

These are recent bankruptcy filings in U.S. District Court in Baltimore.

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Jan. 13

* Virginia Mary Gibson, consultant in medical benefits coordination, 3 Huntchase Court, Baltimore, has filed under Chapter 13 of the federal bankruptcy code. Assets: more than $100,000; liabilities: $195,752.

JAN. 21

* Amy S. Smith, d/b/a Southgate Subway, 337 Hospital Drive, Glen Burnie, a fast-food restaurant, has filed under Chapter 13. Principal: Amy S. Smith. Assets: $9,846; liabilities: $58,000.

* Anthony E. Dahnk Real Estate, 4112 Cadle Creek Road, Edgewater, has filed under Chapter 11. Principal: Anthony E. Dahnk. Assets and liabilities are each more than $50,000.

JAN. 25

* Anthony Spadola, d/b/a International House of Pancakes #502, 6322 Reisterstown Road, Baltimore, has filed under Chapter 13. Assets and liabilities are each more than $50,000.

* Albert A. Schauber Sr., t/a Bert's Burner Service, 1122 Price Station Road, Price, Queen Annes County, restaurant, has filed under Chapter 13. Assets and liabilities are each more than $50,000.

* Grafico Inc., 1510 Caton Center Drive, Baltimore, a builder of computer and local network support systems, has filed under Chapter 11. Principal: Sylvia Maldonado, president. Assets: more than $50,000; liabilities: more than $100,000.

JAN. 26

* Karkare Plus Inc. 6254 Kenwood Avenue, Baltimore, an auto-parts business, has filed under Chapter 7. Principal: Susan M. Aveis, authorized representative. Assets: $85,018.74; liabilities: $277,956.28.

* Betty L. Babington, paving, 4480 Priestland Road, Union Bridge, has filed under Chapter 13. Assets: under $50,000. liabilities: more than $100,000.

* Watkins Electric Co., electrical contractors, 8150 Fort Smallwood Road, Baltimore, has filed under Chapter 11. Principal: Talbot Watkins III, president. Assets: N/A; liabilities: $366,874.

These 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. Unless a creditor objects and is upheld by the court, the debt will be discharged.

CHAPTER 11 -- Reorganization. Available to individuals or businesses, this chapter is intended primarily to allow a business to restructure its debt. A successful reorganization depends on filing a plan and obtaining approval of creditors and the court.

CHAPTER 13 -- Adjustment of debts of an individual with regular income. This chapter provides a way 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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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 name or one's personal name. N/A: not available.

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