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

BANKRUPTCIES

September 19, 1994

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

Sept. 8

* Columbia Works Inc., medical rehabilitation, 7175 Columbia Gateway Drive, Columbia, has filed under Chapter 11. Principal: Quan Duc Trinh, president. Assets: $6,000; liabilities: $67,000.

Sept. 9

* B. G. Hall Inc., a restaurant, 3431 Brookhaven Road, Pasadena, has filed under Chapter 7. Assets: $67,650; liabilities: $125,996.16

Sept. 12

* Pilgrim Laundry Inc., 110-16 E. Ostend St., Baltimore, filed for Chapter 11. Principal: John Santulli Jr., president. Assets and liabilities were not available.

Sept. 14

* 829 Partnership, a real estate partnership, 45 Arverne Court, Lutherville, has filed for Chapter 11 protection. Principal: Nicholas J. Mitsos, general partner. Assets and liabilities not available.

* Town House Associates, a real estate development and rental partnership, 8 Locust St., Westminster, has filed for protection under Chapter 11. Principal: Doris Phelps, personal representative, and Edmund N. Baxter, general partner. Assets and liabilities: over $1 million each.

*

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.

*

vTC 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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