The following are recent bankruptcy filings in U.S. District bTC Court in Baltimore.

JAN. 22

Carnes Inc., 541 W. 27th St., Baltimore. Bar filed for Chapter 11. Principal: Dorothy Carnes. Assets: $74,400. Liabilities: $49,495.

R.W.L Seafood Inc. (Treasures from the Deep), Route 3, Box 809, Easton. Seafood restaurant filed for Chapter 11. Principal: Rodney W. Lewis. Assets: $675,881 (approximately). Liabilities: $793,345 (approximately).

Sea-Bay Builders Inc., 11505 S. Dolly Circle, Berlin. General contractor filed for Chapter 7. Principal: James H. Gallagher. Assets: $1,501. Liabilities: N.A.

JAN. 23

Richard C. Day (Del Capri Catering, Richard's Restaurant & Lounge, People Spaces), 2225 Grafton Shop Road, Forest Hill. Restaurant and catering operations filed for Chapter 11. Assets: N.A. Liabilities: N.A.

The following are the most common types of filings under the U.S. Bankruptcy Code.

CHAPTER 7 -- Liquidation. A trustee is appointed to take charge of all the debtor's property, except for certain exceptions allowed in the law. The trustee will sell the remaining property for the benefit of creditors, and unless a creditor objects and is upheld by the court, the debt will be discharged in whole or in part.

CHAPTER 11 -- Reorganization. Available to all individuals or businesses, this chapter is primarily intended to allow an ongoing business to restructure its debt. A successful reorganization depends on filing a plan and obtaining its approval by creditors and the court.

CHAPTER 13 -- Adjustment of debts of an individual with regular income. This chapter provides a method for individual debtors to repay creditors, in full or in part, over a period of up to five years. It ordinarily involves less than $100,000 in unsecured debt and $350,000 in secured debt.

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