The following firms have filed recently for bankruptcy protection with local clerk of court offices of the U.S. Bankruptcy Court.
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
Advanced Healthcare System Inc. of 818 Roeder Rd., Silver Spring, filed for Chapter 7 liquidation July 3. The computer software development firm listed assets of $1,000 and liabilities of $315,222.54.
CLI Productions of 4320 Hamilton St., Hyattsville, filed for Chapter 11 reorganization July 2. The firm, which produces films and places advertising, listed assets of $978,066 and liabilities of $938,546. CLI owns 51 percent of Learning Tree Systems Inc., a software firm.
Carpenter-Oxford Associates L.P. and Dallas-Oxford Associates L.P., both of 7316 Wisconsin Ave., Bethesda, filed for Chapter 11 reorganization July 2. The real estate firms, which own and operate apartment complexes in Texas, both listed assets as being more than $1 million and liabilities as being more than $1 million. The general managing partner for both limited partnerships is Oxford Equities Corp., which is the managing partner for other Oxford-affiliated real estate partnerships that have filed for bankruptcy protection in the last two years.
Alexandria Division Eastern District of Virginia
Pickett Inc., doing business as Nicky's Restaurant, of 642 S. Pickett St., Alexandria, filed for Chapter 11 reorganization June 28. The restaurant listed assets of $40,000 and liabilities of $946,947.
HFD Inc. of 22930 Shaw Rd., Sterling, filed for Chapter 11 reorganization June 29. The mechanical and electrical contractor listed assets of $205,000 and liabilities of $252,525.50.
Hanna Investment Inc. of 4718 Tapestry St., Fairfax, filed for Chapter 11 reorganization June 29. The real estate development and land sales firm listed assets of $4,975,000 and liabilities of $3,348,364.70.
L.F. Mellot Inc., doing business as Electric Service Co. of 3826 S. Four Mile Run, Arlington, filed for Chapter 11 reorganization July 2. The electrical contractor listed assets of $1,370,000 and liabilities of $1,436,000.
BGRC General Partnership and its general partner, Capital Sun Corp., both of 10807 Main St., Fairfax, were the subjects of separate involuntary Chapter 7 liquidation petitions. Four local construction trade and supply firms filed the liquidation petitions July 2, alleging they are owed $748,223 for services or supplies provided to build a development called the Villas at Potomac Ridge.
District of Columbia
The 1828 18th St. Partnership, which listed a mailing address of 3030 K. St. NW, filed for Chapter 11 reorganization July 2. The firm listed assets of $715,000 and liabilities of $706,000.