The address for Leon Rosen Pharmacy, which has filed for...

BANKRUPTCIES

April 18, 1994

The address for Leon Rosen Pharmacy, which has filed for Chapter 7 bankruptcy, was incorrectly listed in Monday's Business section. The correct address is 2213 Oxeye Road, Baltimore.

The Sun regrets the errors.

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

April 8

* L & L Refrigerated Transportation Inc., of 504 Channel Place in Perryman, filed under Chapter 11. Principal: Leonard M. Saval, president. Assets: $589,980. Liabilities: $1,110,252.

FOR THE RECORD - CORRECTION

* Royal Roofing Co., a/k/a Royal Roofing and Economic Roofing Co. (of Florida), operating at 278 Berkeley Drive, Severna Park, filed Chapter 7. Principal: Glenn V. Curry. Assets: $2,882. Liabilities: $94,441.84.

* School Supplies Unlimited Inc., 218-20 N. Green St., Baltimore, filed under Chapter 7. Principal: Paul Juaiasci, president. Assets: $2,800. Liabilities: $76,773.08.

April 11

* Arundel Geriatric & Nursing Center L/P I, a real estate holding company at 7344 Furnace Branch Road, Glen Burnie, filed under Chapter 11. Principal: Michael J. Francus, secretary/treasurer. Assets and liabilities each over $1,000,000.

* Point Pleasant Health Park L/P, a real estate holding company at 7344 Furnace Branch Road, Glen Burnie, filed under Chapter 11. Principal: Michael J. Francus, secretary/treasurer. Assets and liabilities each over $500,000.

* Martin E. Strauss, motor coach marketing, of 2 Seminary Drive in Lutherville, filed under Chapter 13. Principal: M. E. Strauss. Assets: $250,000. Liabilities: $500,000.

April 13

* Leon Rosen Pharmacy,2212 Oxeye Road, Baltimore, filed Chapter 7. Principals: Leon and Marilyn Rosen. Assets and liabilities: over $100,000 each.

* Virginia M. Norris group home management at 3221 Esther Place, Baltimore, filed Chapter 13. Principal: V. M. Norris. Assets $80,000. Liabilities: $75,000.

*

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 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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