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
House of Glass Corp. of 1317 Bucheimer Rd., Frederick, filed for Chapter 11 reorganization June 8. The firm, which installs glass and storefront material, listed assets and liabilities each as between $100,000 and $499,000.
PADS of Seabrook Inc., doing business as Raceway Foods, of 9404 Lanham Severn Rd., Seabrook, filed for Chapter 11 reorganization June 7. The retail grocery market listed assets as $140,000 and liabilities as $505,000.
Home News Inc. of Prince Georges County filed for Chapter 7 liquidation June 7. More information on the filing was not available.
Alexandria Division Eastern District of Maryland
Oregon Knoll Ltd. Partnership of 2222 Gallows Rd., Suite 160, Vienna, on June 6 filed for Chapter 11 reorganization. The real estate development firm listed assets and liabilities as each being between $500,000 and $999,000.
Brookover Lock, Key & Safe of 14216 Jefferson Davis Hwy., Woodbridge, filed for Chapter 11 reorganization June 11. The company listed assets of $89,916.22 and liabilities of $113,215.20.
Communications Technologies Application Inc. of 7927 Jones Brands Dr., Suite 300, McLean, filed for Chapter 11 reorganization June 12. The firm, which provides technical services relating to training, information services, engineering support, technical documentation, linguistics and communication technology, listed assets as $671,643 and liabilities as $2,019,171.06.
Washington/Indian Head Ltd. Partnership of 6462 Little River Turnpike, Suite A, Alexandria, filed for Chapter 11 reorganization June 12. The firm, which acquired and developed an office town house in the Fort Washington Forest subdivision in Prince George's County, listed assets and liabilities as each being more than $1 million. It listed $1.74 million owed to Potomac Savings Bank, which ordered a June 14 foreclosure sale of the property.
District of Columbia
Trenton Park Ltd. of P.O. Box 18447, Raleigh, N.C., filed for Chapter 11 reorganization June 11. The firm, which owns and operates the Trenton Park Apartments in the District of Columbia, listed assets and liabilities as each being more than $1 million.