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

BANKRUPTCIES

August 29, 1994

The following are recent bankruptcy filings in the U.S. Bankruptcy Court, Eastern District of Maryland in Baltimore City:

Aug. 18

* Robert Eugene & Randi Susan Heilman, t/a Specialty General Contractors, 3817 Ady Road, Street, Md., general contractor and homebuilder, filed for Chapter 13. Assets: $360,412; liabilities: $422,638.68

* Edward John & Julie Ann Burnham, 1061 Lido Drive, Annapolis, d/b/a Search Technology, a mail-order company, filed for Chapter 7. Assets and liabilities: n/a

* Charles Allan & Joni Carol Houser, 2243 Misthaven Lane, d/b/a Beadecked, a retail bead shop, filed for Chapter 7. Assets: $160,161; liabilities: $168,142.64

Aug. 22

* Lawson J. Veney Jr., 120 Clark Street, Pocomoke City d/b/a Lawson's I, a restaurant/bar and Butchs Laundry, a laundromat, filed for Chapter 13. Assets: $53,500; liabilities: $379,181.73

* U.S.A. International Trading & Marketing Inc., 3512 Upper Mill Road, Ellicott City, import/export, filed for Chapter 7. Principal: Mehmet H. Oruncak, president and director. Assets: none; liabilities: $47,864

Aug. 24

* Anastasio Custom Interiors Inc., a remodeler at 3533 E. Joppa Road, Carney, a/k/a ACI Inc., ACI Upholstery and ACI Total Industries, filed for Chapter 7. Principal: Joseph Anastasio, president. Assets: $3,375; liabilities: $113,616

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 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. L/P: Limited Partnership. P/A: Professional Association.

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