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

Bankruptcies

September 30, 1996

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

September 20

Normandy Ford,8528 Baltimore National Pike, Ellicott City, auto and truck sales, filed under Chapter 11. Principal: Esther Grim, vice president. Assets: $2,200,000; liabilities: $6,000,000.

Ridge Lumber Co.,8121 Belair Road, Fullerton, retail/wholesale building supplies and hardware, has filed for Chapter 11 protection. Principal: Lawrence W. Krastel, president and CEO. Assets: $10,304,809; liabilities: $10,472,568.

Ridge Properties,8121 Belair Road, Fullerton, a real estate company, filed for Chapter 11 protection. Principal: Lawrence W. Krastel, president. Assets and liabilities both exceed $1 million.

Blue Crab Seafood,1069 Dorsey Road, Hanover, has been petitioned into an involuntary filing under Chapter 7 by several creditors. Principals: n/a. Assets: n/a; liabilities: at least $153,114.40.

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.

Pub Date: 9/30/96

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