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

BANKRUPTCIES

March 14, 1994

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

Feb. 24

* Kathleen W. Carr, t/a All-3 Printing, 3060 Mimon Road, Annapolis, a general printing firm, filed for Chapter 11. Assets: under $500,000. Liabilities: under $1 million.

Feb. 25

* Elm Company Inc., d/b/a 6-Twelve Convenient Mart, 1731 Jones Falls Court, Crofton, filed Chapter 11. Principals: Barry L. and Janet G. Elm. Assets: $190,004.19. Liabilities: $445,679.33.

March 3

* Linda Joan Strating, 52 Belfast Road, Timonium, a retail/wholesale distributor, filed Chapter 13. Assets: $153,125. Liabilities:

$185,612.82.

* Donald A. and Deborah J. Davis, 49 Merrion Court, Timonium, household refinishing, filed Chapter 13. Assets: under $50,000. Liabilities: under $50,000.

March 4

* William Boucher III, d/b/a Boucher & Associates, 1900 Western Run Road, real estate, filed Chapter 11. Assets: $1.2 million. Liabilities: over $500,000.

* Kirby Dwayne England, d/b/a Focal Fantazies and Innovation Photography, 3401 Edwards Lane, Baltimore, filed Chapter 7. Assets: $19,477. Liabilities: $10,204.

March 7

* Young-Sook Sohn, a.k.a. Young-Sook Kim, 331 Argus Lane, Glen Burnie, clothing manufacturer, filed Chapter 7. Assets: under $50,000. Liabilities: under $500,000.

* H. Richard Sheppard Jr., a.k.a. Harry Richard Sheppard Jr., Richard H. Sheppard and Rick Sheppard, 407 Royal St., Salisbury, construction, home improvement and insurance sales, filed Chapter 7. Assets: under $500,000. Liabilities: under $500,000.

RTC March 9

* Chesapeake Computing Inc., 613 Third Street, Annapolis, software manufacturer, consultant, filed Chapter 11. Principal: Owen Dall. Assets: under $100,000. Liabilities: under $500,000.

* Macattee Inc., 114 E. 25th St., Baltimore, real estate firm, filed Chapter 11. Assets: over $1 million. Liabilities: over $1 million.

* Charles Dean, 2806 Hollins Ferry Road, Baltimore, a sewer and drain cleaning service, filed Chapter 13. Assets: under $50,000. Liabilities: under $50,000.

* Forty-Third Street Condos, 10046 Silver Point Lane, Ocean City, filed Chapter 7. Principles: Gregory Lee Ward and Barbara Gillespie, a.k.a. Barbara Ward and Barbara Gillespie-Ward. Assets: under $500,000. Liabilities: under $500,000.

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 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.

n/a: not available.

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