The following are recent bankruptcy filings in...


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

May 13

* Glen-Nor Ltd., 1324 Sulphur Spring Road, Baltimore. Retail/wholesale florist business filed for Chapter 7. Glenn L. Bowman, president. Assets: $5,190. Liabilities: $15,078.

May 14

* J.R.'s Gifts Inc., 2819 Smith Ave., Baltimore. Retail gift business filed for Chapter 7. John Smeyne, president. Assets: $47,911. Liabilities: $93,778.

* Richard O. Timmons Sr. and Carolyn M. Timmons, 504 St. Lukes Road, Fruitland. Principals in independent trucking business filed for Chapter 7. Assets: $24,455. Liabilities: $279,566.

* Botts Landscape Services Inc., 4045 Federal Hill Road, Jarrettsville. Landscaping business filed for Chapter 7. Robert E. Botts, president. Assets: $53,461. Liabilities: $142,208.

May 17

* Bay Equipment, Rigging & Contracting Inc., 2005 Graves Court, Baltimore. Contracting business filed for Chapter 11. Dorothy Kucik, president. Assets: $73,366. Liabilities: $155,095.

* Tire Warehouse Inc., 710-A Pulaski Highway, Joppa. Retail/wholesale truck tire business filed for Chapter 7. Mary F. Jeffords, president. Assets: $174,000. Liabilities: $315,740.

* C. Bell Catering Inc., 6814-16 Eastern Ave., Baltimore. Catering business filed for Chapter 7. Robert A. Bell, president. Assets: $550. Liabilities: $69,288.

May 19

* Atlantis Health Inc., 730 N. Howard St., Baltimore. Isaac Dilver, president. Principal in medical corporation filed for Chapter 11. Assets: $1,318,000. Liabilities: $611,674.

... 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.

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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