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.
District of Maryland/Rockville Court
Three limited partnerships, all operated from 17011 Barn Ridge Dr., Silver Spring, and owned by the same partners, filed for Chapter 7 liquidation on Aug. 27. SDI Headquarters L.P., Lot 5 Block B Associates L.P. and Sunshine L.P. are owned by J. Bernard Nebel, Meyer Bobrow and Joan E. Bobrow.
The three partnerships also were the subject of foreclosure papers filed earlier in the month in Montgomery County Court by a trustee. SDI Headquarters owns a building at 7500 Lindberg Dr., Gaithersburg, and the foreclosure papers alleged the limited partnership owed $2,316,513.75 to Maryland National Bank (MNB). Lot 5 Block B Associates owns a building at 7510 Lindberg Dr., and owed $2,116,304.51 to MNB, the foreclosure papers said. Sunshine owns Sunshine Shopping Center at 22305 Georgia Ave., Brookeville, and owed MNB $1,275,773, the papers said.
Carey's Cleaners Inc. of 7738 Annapolis Rd., Lanham, filed for Chapter 11 reorganization Aug. 24. The firm listed some of its liabilities, which totaled about $250,000.
A Quality Services Inc. of 1315 E. Deer Park Rd., Suite 100, Gaithersburg, on Aug. 24 filed for Chapter 11 reorganization. The insulation contractor listed $399,569 in assets and $337,011 in liabilities.
George K. Davis, doing business as G.K. Davis Construction, of 4307 Ridgecrest Dr., Suitland, on Aug. 24 filed for Chapter 7 liquidation. The masonry subcontractor listed property of $141,349 and debts of $259,971.28.
Alexandria Division/Eastern District of Virginia
Parrish Farm Estates Joint Venture of 721 Parrish Farm Lane, Great Falls, on Aug. 27 filed for Chapter 11 reorganization. The residential development firm listed assets of $1,988,826 and liabilities of $2,573,029.
The American Bookworm of 7770 Gunston Plaza, Lorton, on Aug. 27 filed for Chapter 7 liquidation. The bookstore listed assets of $82,077 and liabilities of $142,102.
Curtis Enterprises of P.O. Box 861, Stafford, on Aug. 23 filed for Chapter 11 reorganization. The real estate development firm listed assets of $1,500,350 and liabilities of $1,058,925, which was a purchase-money security for 167 acres in Stafford County.
District of Columbia
Mature Market Institute, of 20 Chevy Chase Circle NW, on Aug. 30 filed for Chapter 7 liquidation. The nonprofit association listed assets of $4,448.09 and liabilities of $253,884.77.
Renaissance Builders Inc. of 4418F MacArthur Blvd. on Aug. 27 filed for Chapter 11 reorganization. The general contractor listed debts as $402,656 and property of $200,500.