The assets of V-Com Composition Inc., whose owners included Theodore G. Venetoulis, a local publishing executive, were sold at auction yesterday.
Maryland National Bank seized the printing company's assets in April. Mr. Venetoulis later filed for personal bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.
V-Com's building and land in Silver Spring were sold for $560,000 to SOPM Limited Partnership of Baltimore, according to Mary Beth Barnes, a legal assistant at Miles & Stockbridge, the law firm representing Maryland National. The amount received for the printing and office equipment was not available, she said.
The sale of the V-Com assets was unaffected by Mr. Venetoulis' bankruptcy filing because the bank's actions were taken against the company and not against his personal assets, Mr. Venetoulis said.