Recent filings in the U.S. Bankruptcy Court, District of...

Bankruptcies

May 26, 1998

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:

May 15

L. S. Cosmetics Inc.,29 Cornbury Court, Owings Mills, filed Chapter 7. Principal: Michael Seidel, president. Assets & liabilities: under $50,000 each.

May 18

Textrol Acquisitions Co. LLC, 6600 Moravia Park Drive, Baltimore, filed for protection under Chapter 11. Principal: Stuart Savanuck, chairman. Assets: n/a. Liabilities: more than $500,000

May 19

Duke's Carpet & Flooring Installation, 301 Main St., Mardela Springs, a.k.a. Duke's Carpet & Flooring, Duke's Carpet, Flooring & Installation and Duke's Carpet & Flooring Inc., filed Chapter 7. Principal: David Wallace, president. Assets: $2,355.41. Liabilities: $70,165.86

Chesapeake Staffing Inc., 203 Key Highway, Baltimore, filed for Chapter 11 protection. Principal: Ferdinand A. Fountain, president. Assets: more than $100,000. Liabilities: more than $1 million

Royal Furniture Co. Inc., 510 S. Monroe St., Baltimore, filed for protection under Chapter 11. Principal: Michael Meadows, president. Assets: $1,500,000. Liabilities: $2,006,353.12

May 20

Brian Patrick Niskey, 631 Glenwood Ave., Easton, an individual operating real estate rentals, has filed for an adjustment of debts under Chapter 13. Assets: $206,835. Liabilities: $283,074

Abbreviations

a.k.a.: also known as; c/o: care of; d/b/a: doing business as; t/a: trading as; n/a: not available; LLC: Limited Liability Company; L/P: Limited Partnership; J/V: Joint Venture; P/A: Professional Association; P/C: Professional Corporation

Definitions

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: 5/26/98

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