The following are recent bankruptcy filings in U.S. District Court in Baltimore.
* Bio-Analytical Laboratories Inc., 7151-0 Columbia Gateway Drive, Columbia. Provider of medical laboratory services, filed for Chapter 11. President: William L. Wilson. Assets: $202,713. Liabilities: $523,194.
* Polock Johnny's Inc., 111 W. Lexington St., Baltimore. Retail food marketing business filed for Chapter 7. President: Margaret Kafka. Assets and liabilities: Both between $500,000-$999,000.
* Dwayne P. Elliott and Sandra J. Elliott, 6 Shady Hill Court, Baltimore. Principals in siding installation business filed for Chapter 7. Assets: $4,655. Liabilities: $52,627.
* Aidan Edward Walsh Jr., 3405 Kirby Kounty Drive, Taneytown. Principal in company that provides cleaning and car detailing services and sells protective devices, filed for Chapter 7. Assets: $18,011. Liabilities: $19,851.
* Michael Patrick Caslin (t/a Michael's Electric Co.), 625 Gulf Stream Drive, Ocean City. Mr. Caslin filed for Chapter 7. Assets: $1,900. Liabilities: $55,504.
* Marty Pessagno and Joan E. Pessagno, 1539 Brice Circle, Edgewater. Principals in company that sells and services graphic art equipment filed for Chapter 7. Assets: $100,000- $499,000. Liabilities: $1,000,000-$9,999,000.
* Harold H. Brozer and Yetta Brozer,6404 Elray Drive, Apt. F, Baltimore. Manufacturer's representative for furniture sales filed for Chapter 7. Assets: $12,758. Liabilities: $34,491.
* Benford Spence (t/a Arundel Tile & Marble), 800 Old Stage Road, Glen Burnie. Mr. Spence filed for Chapter 13. Assets and liabilities: Under $50,000.
* Gerald A. Lloyd and Jeanne M. Lloyd, 332 Derbyshire Lane, Riva. Real estate agent filed for Chapter 11. Assets and liabilities: between$500,000 and $999,000.
* Three Nuts & A Bolt Inc. (a/k/a Exotic Fresh and Reef Enterprises, a/k/a Marine World). Case transferred from Rockville. No other information available.
* Patti L. Sachs, 4922 Lerch Drive,Shady Side. Principal in painting and home repair business filed for Chapter 7. Assets: $4,724. Liabilities: $31,054.
* Sea Won Kim Inc., 910 Frederick Road, Catonsville. Grocery store filed for Chapter 7. President: Sea Won Kim. Assets and liabilities: N.A.
* William Martin Boyd (a/k/a Boyd Electric), 1739 Elkridge Drive, Edgewater. Principal in construction business filed for Chapter 13. Assets and 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.
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 person uses for a business instead of the actual business name or one's personal name.