The following are recent bankruptcy filings in U.S. District Court in Baltimore.
* James R. Andres and Anna V. Andres, 8101 Beechberry Court, Pasadena. Principals in construction business filed for Chapter 7. Assets: $287,744. Liabilities: $313,209.
* W. D. Lutch Construction Inc., 654 Ocean Pines, Berlin. Construction business filed for Chapter 7. Principal: William D. Lutch. Assets: $60. Liabilities: $770,000-$775,000.
* UA Industries Inc., 600 S. Catherine St., Baltimore. Manufacturing business filed for Chapter 11. President: James B. McKelvey. Assets: $1,000-$9,999. Liabilities: $1,000-$9,999.
* Saint Joseph Dental Association, 7401 Osler Drive, Towson. Dentistry business filed for Chapter 7. Principal: Anthony Bravos. Assets: under $50,000. Liabilities: $1,000-$9,999.
* Richard S. Cole, 410 Dogwood Drive, Salisbury. Principal in construction business filed for Chapter 7. Assets: $389,373. Liabilities: $666,052.
* S. Sanders Jewelers Inc., Marley Station, 7900 Ritchie Highway, Glen Burnie. Retail/wholesale jewelry store filed for Chapter 11. President: Laurence Sanders. Assets: under $50,000. Liabilities: $100,000-$499,000.
* Mardi Gras Inc., 1999 E. Joppa Road, Baltimore. Restaurant business filed for Chapter 11. Principals: James B. McDermott and William H. Bennett Jr. Assets: $100,000-$499,000. Liabilities: $100,000-$499,000.
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.
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.