The following firms and individuals recently filed petitions with the U.S. Bankruptcy Court's local clerk of court offices.
Under Chapter 11 of the federal bankruptcy code, a company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved by the court.
In a Chapter 7 liquidation, a court trustee sells assets to pay creditors' claims. The company then ceases operations.
Rockville Court District of Maryland Metro Electrical Construction of Prince George's County filed for Chapter 11 reorganization May 30, and TDM Enterprises Inc., doing business as Shipley's Sporting Goods in Frederick County, filed for Chapter 11 reorganization May 24. Court documents on the filings were not available.
Alexandria Division Eastern District of Virginia Sunshine Development Ltd. of 8787 Commerce Ct., Manassas, filed for Chapter 11 reorganization May 25. The excavation and utility installation service listed assets of $781,523 and liabilities of $988,498.
Yarn Carriers Inc. of 70 Main St., Suite 44, Warrenton, filed for Chapter 11 reorganization May 29. The manufacturer of cardboard tubing listed assets of $240,973 and liabilities of $589,611.
Craftmasters Construction Co. of Virginia Inc., of 1608 Folly Lick Ct., Herndon, filed for Chapter 11 reorganization May 30. The construction firm listed debts of $112,365.86 and property of $37,420.59.
Percy and Irene Byrd of California, general partners of 12184 Glade Dr. Associates of 2524 Pinoak Lane, Reston, filed an involuntary Chapter 11 petition May 24 against the firm. The petition said Sovran Bank had issued a notice that property owned by 12184 Glade Dr. Associates would be sold at a foreclosure auction June 1.
Deavers Appliance Co. Inc. of 7060 Columbia Pike, Annandale, filed for Chapter 11 reorganization May 25. The appliance sales and service business did not list its assets, but listed liabilities as $890,986.
District of Columbia Concorde Development Consortium of 2123 California St. NW, No. F-4, filed for Chapter 11 reorganization May 29. The real estate development firm listed assets of $800,000 and liabilities of $840,330.49.
Candy Parlour Inc. of 1361 Connecticut Ave. NW filed for Chapter 11 reorganization May 29. The firm listed unsecured claims of $281,751.96.