The following are recent bankruptcy filings in...


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


* John R. Talbott Jr., 2220 Ocean Pines, Berlin. Real estate developer and broker filed for Chapter 11. Assets: $2,156,000. Liabilities: $515,315.


* Catherine LaVerne Collins, (d/b/a House of Treasures), 616 Glenview Ave., Glen Burnie. Antique business filed for Chapter 13. Assets: $145,322.62. Liabilities: $183,239.46.


* Carol Covington Harris, (d/b/a Artworks), 1637 Popular Grove Baltimore. Frame shop filed for Chapter 13. Assets: $50,000 $99,000. Liabilities: $50,000$99,000.

* Bernard Willard Humphrey Jr. and Peggy K. Humphrey, (d/b/a St. Michaels Hardware & Gift Shop and Scotty's Children Shop), 8940 Bozman-Neavitt Road, St. Michaels.

The business that sold hardware, gifts and items on consignment filed for Chapter 7. Assets: less than $50,000. Liabilities: less than $50,000.


* Anita L. Gibson, 8523 Woodlawn Manor Drive, Laurel. The independent insurance contractor in 1991 filed for Chapter 7.

Assets: $6,190. Liabilities: $15,029.


* Douglas M. Godine and Ellen H. Godine, 1308 Locust Ave., Baltimore. The real estate consultant filed for Chapter 11. Assets: N/A. Liabilities: N/A

The following are the most common types of filings under the 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.

d/b/a (doing business as) or t/a (trading as): an assumed name a person uses for a business instead of the actual business name or one's personal name.

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