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

Bankruptcies

August 10, 1998

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

July 31

The Regency Corp., 7150 Columbia Gateway Drive, Columbia, a subsidiary of Regency Homes Corp., filed under Chapter 7. Principal: David R. Priddy, vice president. Assets and liabilities more than $50 million each.

Aug. 3

CHS Holding Co., 13 Chesapeake Landing, Annapolis, an investor/holder in U.S. Virgin Islands real estate, filed under Chapter 7. Principal: John W. Steffey Sr., president. Assets: more than $100,000. Liabilities: more than $100 million

TBJ Drywall Inc.,Box 937, Abingdon, filed for Chapter 7. Principal: Edward Pape, president. Assets: $3,477.20. Liabilities: $243,172.52

Aug. 4

Dave G. & Mary B. Richardson, 05 Stockton St., Elkton, jointly and d/b/a D&M Painting Contractors, filed for adjustment of debts under Chapter 13. Assets: $106,290. Liabilities: $117,225

Hussain Shaw Mazhar, 14-K Reler Lane, Somerset, N.J., d/b/a Merritt Exxon, 1300 Merritt Boulevard, Dundalk, filed under Chapter 7. Assets: $32,000. Liabilities: $595,490.43

Gary Allan & Deborah Ann Comegys, 310 London Ave., Salisbury, d/b/a Naylor Food Mart, filed under Chapter 7. Assets: $154,615. Liabilities: $197,728

Gary William Schlerf, 10216 Bent Creek Road, Ocean City, a contract author, filed for adjustment of debts under Chapter 13. Assets: $395,902. Liabilities: $476,355

Vargas Electronics Inc., 920 Providence Road, Towson, a products distributor, was involuntarily petitioned into a Chapter 7 filing by creditor JACO Electronics Inc. Principal: not listed. Assets: n/a. Liabilities: at least $1,154,012.37

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: 8/10/98

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