The following are recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:
Oct. 18
Baltimore Racquet Club Inc., 405 Central Avenue, Towson, filed for Chapter 7. Principal: Emily DiCicco, president. Assets: under $50,000; liabilities: over $150,000
Oct. 20
Rescom Contractors, 19241 Whiskey Bottom Road, Laurel, construction and exterior renovations company,filed for Chapter 11 protection. Principal: Beverly Lynch, president. Assets and liabilities are under $50,000 each.
Village Lock & Key Inc., 1042 Columbia Mall, Columbia, Chapter 11. Principal: Maria LeTourneau, secretary. Assets: $250,000; liabilities: $250,000
West Construction Co., 428 E. Fort Ave., remodeling and rehabilitation, filed for Chapter 7. Principal: Julius W. West III, president. Assets: $55,818.01; liabilities: $153,207.20
Oct. 24
Chesapeake Floor Fashion 1925 N. Salisbury Blvd., Salisbury filed under Chapter 11. Principal: Richard Hayward, president. Assets: $56,593.42; liabilities: $107,030.23
Oct. 25
PPS Consulting Services Inc. a.k.a. PPS and PPS Inc., 44 Bellfalls Road, Baltimore, filed under Chapter 7. Principal: John Paul Backert, president. Assets: None; liabilities: $42,000
Abbreviations
a.k.a: also known as; d/b/a: doing business as; t/a: trading as; n/a: not available; LLC: Limited Liability Company; L/P: Limited Partnership; P/A: Professional Association; P/C: Professional Corporation
Definitions
The following are the most common types of filings under the U.S. Bankruptcy Code:
Chapter 7 -- Liquidation.
Chapter 11 -- Reorganization.
Chapter 12 -- Agriculture, Family Farm with other income.
Chapter 13 -- Adjustment of debts of an individual with regular income.
