The following are recent bankruptcy filings in U.S. District Court in Baltimore.
* Dynamic Fitness of Randallstown Inc., 8727 A Liberty Road, Randallstown. Spa filed for Chapter 7. Keith Vasquez -- sole shareholder. Assets: under $50,000. Liabilities: $50,000-$99,000.
* John Farson Simpson, 782-C Fairview Ave., Annapolis. Real estate development, construction and management business filed for Chapter 11. Assets: $1,000,000-$9,999,000. Liabilities: $1,000,000-$9,999,000.
* Hanna Enterprises Inc., Gregory C. Hanna, president, 2512 Anders Road, Baltimore. Professional has filed for Chapter 11. Assets: 0. Liabilities: $635,461.
* SPS Construction Inc., Joseph M. Trionfo, president, 2 Beechleaf Court, Towson. Principal in construction business has filed for Chapter 7. Assets: $10,925. Liabilities: $156,851.70.
* Implant Technology Inc., d/b/a Osteo-Technology International Inc. (involuntary), 10 W. Aylesbury Road, Timonium, has filed for Chapter 7. Type of business: N/A. Assets: N/A. Liabilities: N/A.
Wilson Horse Transportation, Thomas Herbert, principal in horse transportation business, 937 Leisters Church Road, Westminster, has filed for Chapter 7. Assets:$100,000-$499,000. Liabilities: $500,000-$999,000.
* Baltimore Ad-vantage Inc., 6202 Greenspring Ave., Baltimore. Jeffrey L. Frye principal in advertising business has filed for Chapter 11. Assets: $48,950. Liabilities: $109,013.29.
* B. Boomer Inc. d/b/a Dock of the Bay, Hummers,, 2607 Belair Road, Fallston. Crab house filed for Chapter 11. George F. Barger Jr., president. Assets: $275,000. Liabilities: $243,766.
* Thomas A. Kovatch, d/b/a D&D; Tropicals, 1904 Van Buren Road, Baltimore. Tropical fish store filed for Chapter 7. Assets: $50,000-$99,000. Liabilities: $100,000-$499,000.
* Harrison Brothers Inc. d/b/a Harrison Bros. Inc., 1701 Allen Court, Bel Air. Concrete demolition and renovation company filed for Chapter 7. John O. Harrison, president. Assets: $438. Liabilities: $148,353.30.
* Michael Owen Jarrett, t/a Jarrett Associates, 1710 Westminster Way, Annapolis. Mr. Jarrett and Sheila P. Jarrett filed for Chapter 11. Debts include business commitments including Jarrett Associates, which sells vacuum cleaners and soap. Assets: $320,394.66. Liabilities: $2,316,218.68.
* Warren Ridgely Alton d/b/a Alton Bros. Painting & Roofing Co., 706 Bay Ridge Ave., Annapolis. Roofing and painting company filed for Chapter 7. Warren Ridgely Alton, principal. Assets: $4,200. Liabilities: $20,921.86.
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 re
maining 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 a person uses for a business instead of the actual business name or one's personal name.