The following firms have filed for bankruptcy protection recently 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 Color Unlimited Inc. of 6415 Virginia Manor Rd., Beltsville, filed for Chapter 11 reorganization Aug. 7. The photographic lab listed assets of $55,000 and liabilities of $445,000.
Alexandria Division Eastern District of Virginia Unitec Digital Systems Inc. of 8229 Boone Blvd., 7th Floor, Vienna, filed for Chapter 11 reorganization Aug. 3. The telecommunication services company listed assets of $444,405 and liabilities of $745,877.
Longbranch Development Co. of 1800 Dumbarton St., McLean, filed for Chapter 11 reorganization Aug. 3. The land development company listed assets of $16,603,150 and liabilities of $5,873,008.70. Its principal asset is a 1,000-acre parcel of raw land in North Carolina; its principal liabilities, two deeds of trust held against that land.
Best & Associates Inc. of 9116 Center St., Manassas, filed for Chapter 11 reorganization Aug. 3. The carpentry subcontracting company listed assets of $20,000 and liabilities of $191,028.
Systech Group Inc. of 1768 Business Center Dr., Suite 100, Reston, filed for Chapter 11 reorganization Aug. 6. The security engineering consulting firm listed assets of $250,000 and liabilities of $1.3 million.
Denny's Land Clearing Inc. of 9053 Liberia Ave., Manassas, filed for Chapter 11 reorganization Aug. 6. The land clearing company listed assets of $656,050 and liabilities of $632,611.51
Lacey/MRY Haymarket General Partnership of 374 Maple Ave., Vienna, filed for Chapter 11 reorganization Aug. 8. The firm's petition was incomplete, but it did list $11,271 in unsecured claims.
Umbrella One Ltd. Partnership of 8000 Towers Crescent Dr., Suite 600, Vienna, was the subject of an involuntary Chapter 11 suit Aug. 3. Arthur L. Hamel Construction Co. of Baltimore, which filed the petition against Umbrella One, alleged that Umbrella One owed Hamel $1,952,696.85.
Garrison Van & Storage Inc. and Wainwright Transfer Corp. of Va., both of 14780 E. Farm Creek Dr., Woodbridge, both filed for Chapter 7 liquidation Aug. 6. Garrison, which specializes in moving and storing household goods, listed assets of $61,094.51 and liabilities of $49,834.83. Wainwright, a moving and transfer company, listed assets of $96,442.28 and liabilities of $106,195.81.
Touch of Tradition of Va. Inc. of 22854 Bryant Court, Unit 103, Sterling, filed for Chapter 11 reorganization Aug. 2. The retail decorating company listed assets of $1.5 million and liabilities of $1.6 million.
District of Columbia Gateway Associates Ltd. Partnership of 1328 Florida Ave. NW filed for Chapter 11 reorganization Aug. 7. The firm, whose general partner is Festival Development Group-Shaw L.P. and which is controlled by Jeffrey N. Cohen, did not provide complete financial information in its petition.