Chapter 11

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:May 21Danielle Rouiller, 9613 Glendower Court, Laurel, a lawyer, filed Chapter 7. Assets: $1,813; Liabilities: $209,552.92May 24Earl Anthony Thompson, 29186 Double Tree Drive, Salisbury, cook/self-employed, filed Chapter 7. Assets: $1,000; Liabilities, $18,324.89May 27Around the World Inc., 18 N. Law St., Aberdeen, a computer sales and repair firm, filed Chapter 7. Assets: $180,600.14; Liabilities, $476,741.

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:Nov. 12Torino Holdings Inc., 106 Competitive Goals Drive, Eldersburg, d/b/a EDM Technologies, filed under Chapter 11. Principal: Michael F. Torino, president. Assets: $2,566,155; Liabilities: $3,900,000Blanton Electric Inc., 7501 New Port Road, Woodbine, filed under Chapter 7. Principal: Thomas Blanton Sr., president. Assets: none; Liabilities: $14,522Burton Robert Glassner, 304 Highmeadow Road, Reisterstown, t/a Trax Trucking and as Trax Trucking & Logistics, filed under Chapter 7. Assets: $104,828.

Independent grocer Valu Food is poised to emerge from Chapter 11 bankruptcy by spring and later in the year plans to start remodeling stores and looking for new sites, the chain's president said yesterday.Louis Denrich, in comments to the 265-member Baltimore/Washington Grocery Manufacturers Representatives Inc., sought to reassure many of his suppliers of the chain's viability.The locally owned chain is the sixth-largest in the Baltimore region with 10 supermarkets. It filed for Chapter 11 protection in November, with an estimated $3.5 million owed to its 20 largest creditors.

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:June 18Riverside Shellfish Co. Inc., 1019 Eastern Shore Drive, Salisbury, a.k.a. Riverside Seafood, filed under Chapter 7. Principal: John Gregory Cox, president. Assets: $6,500; Liabilities: $33,285.90June 21Denise I. Wright, 1227 Winston Ave., Baltimore, operating a bookstore, filed under Chapter 7. Assets: under $50,000; Liabilities: over $100,000Kurzweil Inc., 1100 Westminster Pike, Reisterstown, d/b/a Reister's Desire and a.k.a.

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:Oct. 22Richard & Judy Inc.,500 York Road, Towson, t/a PIP Printing #835, filed for protection under Chapter 11. Principal: Richard J. Johnson, president. Assets: $24,506.97; Liabilities: $136,511.36Oct. 26Amnic Industrial Coatings Corp.,3101 Belair Road, Kingsville, filed for protection under Chapter 11. Principal: Douglas Zeisel, president. Assets: $346,423; Liabilities: $529,383Oct. 28M & L Baltimore Vending Co. Inc.,4242 E. Joppa Road, Carney, filed Chapter 7. Principal: Michael J. DePasquale Sr., president.

Loehmann's Inc., the New York-based retailer that offers designer apparel at bargain prices, filed for bankruptcy protection yesterday in Wilmington, Del.The chain, whose first store opened in 1920, said it had assets of $188.7 million and liabilities of $184.1 million. On Monday, Loehmann's failed to make a $5.5 million interest payment to creditors.In a written statement, Chairman and Chief Executive Officer Robert Friedman said, "The decision to file for Chapter 11, while difficult, represents the most viable option for restructuring our company."

DefinitionsThe 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.Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:Jan. 29Kaona O. Taylor hair salon, 16 Nottingham Lane, Berlin, filed under Chapter 7. Assets: $3,545; Liabilities: $30,946Feb. 4Vanguard Paving Contracting Inc., 56 Milburn Circle, Pasadena, filed under Chapter 7. Principal: Rory Van Brackel, president.

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:Nov. 29Dennis Michael Hardee,109 Old Wharf Road, Ocean City, t/a Bay City Masonry, filed for debt liquidation under Chapter 7. Assets: $23,599; Liabilities: $923,965.31Nov. 30Alvin N. Burton,48 Boxthorn Road, Abingdon, an insurance broker t/a Assuretek Inc. and as Burton Insurance Group, filed under Chapter 7. Assets: $232,925; Liabilities: $341,213Abbreviations a.k.a.: also known as; c/o: care of; d/b/a: doing business as; t/a: trad ing as; n/a: not available; H/C: Holding Company; LLC: Limited Liability Company; L/P: Limited Partnership; J/V: Joint Venture; P/A: Professional Association; P/C: Professional CorporationDefinitionsThe most common types of filings under the U.S. Bankruptcy Code:Chapter 7 -- Liquidation.

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:Dec. 9Lewis J. Bailie,9984 Guilford Road, Jessup, t/a Bailie's Autosport, filed under Chapter 7. Assets: $5,488.59; Liabilities: $53,742.99Dec. 13PKI Commercial Equipment Inc.,100-A Westminster Pike, Reisterstown, d/b/a Pulp Kitchen Inc., filed under Chapter 7. Janet Derrickson, president. Assets: $3,000; Liabilities: $140,485.31Abbreviations a.k.a.: also known as; c/o: care of; d/b/a: doing business as; t/a: trading as; n/a: not available; H/C: Holding Company; LLC: Limited Liability Company; L/P: Limited Partnership; J/V: Joint Venture; P/A: Professional Association; P/C: Professional CorporationDefinitionsThe most common types of filings under the U.S. Bankruptcy Code:Chapter 7 -- Liquidation.

Recent filings in the U.S. Bankruptcy Court, District of Maryland, Baltimore City:Sept. 30Ponca Street LLC, 307 Eaton St., Baltimore, commercial real estate, filed for protection under Chapter 11. Principal: Ronald D. Jones. Assets: $300,000; Liabilities: $310,000Oct. 5Paul A. Hayward, landscaper, 8430 Park Road, Pasadena, filed under Chapter 7. Assets: $137,040; Liabilities: $167,596Strategic Management Inc., a.k.a. Stephan & Associates, PSG Inc., 7939 Honeygo Blvd., White Marsh, filed for protection under Chapter 11. Principal: Harry Robert Stephan, president.

A deadline for General Motors Corp. bondholders to accept a revised debt-for-stock offer that could speed the carmaker's ride through Chapter 11 passed Saturday without any word on whether there was enough participation to satisfy the company and the Obama administration. The offer would give holders of about $27 billion in bonds as much as 25 percent of a new, post-bankruptcy GM while wiping out most of the bond debt. The company and the administration hoped to get enough bondholders to agree so that the deal could be part of GM's expected bankruptcy filing Monday.

WASHINGTON -President Obama's decision to save Chrysler by pushing it into bankruptcy Thursday puts the company in risky, uncharted territory for a major U.S. automaker and could portend a similar outcome for General Motors Corp. as it races to meet its own government restructuring deadline. The administration is betting Chrysler's future on its ability to emerge quickly from what can be a complex and unpredictable legal process. Obama also is tying the company's fate to Fiat, a foreign owner who may not fathom American car buyers.

Middle River-based cosmetics provider Jane & Co. filed for Chapter 11 bankruptcy protection Monday in federal court in Delaware. The Baltimore County company said it faced "significant cash liquidity issues" because of declining consumer spending amid an economic crisis. Jane said it has obtained financing from a senior secured lender that will allow it to continue operations. The company, which reported $25 million in annual revenue, listed assets of between zero and $50,000 and liabilities of $1 million to $10 million, according to electronic court documents.

Energy regulation bill passes Senate vote A plan to move the state back to a regulated energy market won approval Wednesday night in the Maryland Senate, after lawmakers sparred over whether the proposal would save ratepayers money. The Senate voted 27-19 for the plan that has the backing of Gov. Martin O'Malley. The Democratic governor said in a statement after the vote that he looks forward to working with the House of Delegates on the bill. But with less than two weeks left in the legislative session, the plan's fate is unclear.

CHARLESTON, W.Va. - The Greenbrier luxury resort, the white Georgian-style landmark that has hosted 26 presidents since it opened in 1778, filed for Chapter 11 bankruptcy protection yesterday and unveiled a plan to sell itself to hotel giant Marriott International Inc. for up to $130 million. A recession-fueled drop in demand for luxury hotel rooms helped drive the Greenbrier to a deal that would end nearly a century of ownership by railroad company CSX Corp. and its predecessors. The resort blossomed from an 18th-century sulfur spring retreat to a society hot spot in the roaring 1920s.

The news that came late last week from the Baltimore Opera Company wasn't unexpected. Ever since the organization sought Chapter 11 bankruptcy protection in December, everyone knew that the next shoe could drop with the thud of Chapter 7 liquidation. Still, when it fell, somehow it seemed impossible. After nearly six decades (more if you count the precursor organization), the city's grand opera company is dead, waiting for its assets to be auctioned so that creditors can be paid a portion of what they are owed.

WILMINGTON, Del. - A federal bankruptcy court judge approved yesterday more than a dozen legal motions filed by Tribune Co. that will allow it to borrow millions, pay thousands of employees and maintain critical vendor and customer contracts. The motions were designed to keep the media giant operating while it restructures its finances, a process that could take a year or more. It was the initial court appearance for the Chicago-based parent company of The Baltimore Sun and other newspapers, television stations and media properties across the nation after its Chapter 11 bankruptcy filing Monday, which encompasses 110 of the company's 127 subsidiaries.

Time for restructuring of our auto industry According to data cited by University of Michigan economist Mark Perry, when you fold in health care, pensions, hourly pay, vacations and the rest of their benefits, the average total compensation for a Big Three autoworker is $73.21 an hour. Toyota, Honda and Nissan pay a still-generous $44.20 an hour in total compensation - which gives them a cost edge of nearly 40 percent. So is it any wonder that Ford, General Motors and Chrysler can't compete?

Steve & Barry's LLC, the discount seller of clothing lines by celebrities including Sarah Jessica Parker, has sought protection from creditors, joining at least 10 U.S. retailers in bankruptcy this year as consumers cut spending. The company, based in Port Washington, N.Y., listed $693.5 million in assets and $638 million in debt as of May 31 in documents filed yesterday in U.S. Bankruptcy Court in Manhattan. The company said in a statement that it eliminated 172 jobs yesterday and plans to consolidate offices while seeking a sale to repay debt.

Jessup-based mattress manufacturer Dormia Inc. said yesterday that its retail operation filed for bankruptcy protection, conceding that its push to sell directly to consumers has foundered. Bankruptcy reorganization will allow the company to refocus on its wholesale business, Classic Sleep Products, which has experienced a more than 15 percent increase in mattress sales this year compared with last year, chief executive Michael Zippelli said. "That's always been our core business," said Zippelli, who purchased the Jessup plant with a partner in 2000.