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

BANKRUPTCIES

March 21, 1994

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

*

MARCH 9

* Threesome Inc., d/b/a Nevada Bob's Golf, 8 West Hamilton St., Baltimore, golf equipment franchise, filed Chapter 7. Principal: n/a. Assets: under $50,000. Liabilities: over $100 million.

MARCH 10

* Strapazza of Annapolis Inc., a restaurant at 2341-P Forest Drive, Annapolis, has filed under Chapter 11. Principal: Luigi Coppola, president. Assets: $43,950; Liabilities: $171,700

MARCH 11

* Horace Hardware Inc., 6707 Coastal Highway, Ocean City, filed under Chapter 11. Principal: Roland H. Broseker, president. Assets: $1,039,768.21; Liabilities $807,514.83

* Cheng Shum Enterprises, a restaurant at 1111 N. Rolling Road, Catonsville, filed Chapter 11. Principal: Ricky Shum, president. Assets: $40,650; Liabilities $353,834

MARCH 14

* Barber Shop, 3119 Northmount Road, Baltimore, filed under Chapter 13. Principal: Shunia Lynne Carter. Assets: $315,004.40; Liabilities: $295,238.77

* Michael Lee Owens Construction, 29872 Kingswood Drive, Salisbury, filed Chapter 7. Assets: $8,500. Liabilities: $23,393.76

* Thomas F. Zink Jr. developer, 1001 Wagner Road, Towson, has filed Chapter 7. Principal: Thomas F. Zink Jr. Assets: $157,975; Liabilities: over $4,939,914.53

MARCH 15

* Vega Biotechnologies Inc. d/b/a Synthecell and Vega Biomolecule Corp. has been involuntarily petitioned into a Chapter 7 filing by creditors. Principal: n/a. Assets:unknown; Liabilities: $1,280,993.29.

MARCH 16

* CC&F Anne Arundel Investment Co., 99 Summer Street, Boston, d/b/a Marley Neck Industrial Park, an office and warehousing complex located at 6600-10 Cabot Drive, Curtis Bay, has filed under Chapter 11. Principal: John Pirovano, president. Assets: n/a; Liabilities: $20,206,828.86.

* Paloma Designs, Inc. a real estate development firm at 1018 Magothy Drive, Arnold, has filed for Chapter 11 protection. Principal: Donald E. Dove, president. Assets: $115,000; Liabilities: $75,000

* Platco Inc. d/b/a Briarwood Inn, a restaurant at 1226 Bel Air Road, Bel Air, has filed Chapter 7. Principal: Alexander A. Platis, president. Assets: $235,500; Liabilities: $222,370.76

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 a continuing 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. It 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. n/a: not available.

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