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
Raymond E. Barnhart and Janice A. Barnhart, doing business as R.E. Barnhart Trucking, filed for Chapter 7 liquidation Oct. 16.
The firm listed assets of $28,450 and liabilities of $153,392.
Consolidated Properties L.P. in Rockville filed for Chapter 11 reorganization Oct 12.
According to court documents, the firm owes $103,319 to Montgomery County, its biggest creditor. Alexandria Division Eastern District of Virginia
Spa Lady Corp. along with its subsidiary, Spa Lady of New York, filed for Chapter 11 reorganization on Oct. 11. The Oakton-based company owes $1,430,509 to First Park Associates on Park Avenue in New York. First Park, the landlord of a New York spa, had initiated involuntary bankruptcy proceedings against the parent corporation. The bankruptcy judge approved the sale of the Washington area Spa Lady health clubs, which were owned by a subsidiary, to a new group of owners. The spas are open for business under the new ownerships, and memberships have not been affected.
Fairfax Asphalt and Paving Corp. in Alexandria filed for Chapter 11 reorganization Oct. 11. The company listed assets of $165,000 and liabilities of $307,945.
Chantilly Auto Glass Inc., an automobile glass installer, filed for Chapter 7 liquidation Oct. 17. The company listed assets of $13,495 and liabilities of $175,381.
Purdey Associates International of Vienna filed for Chapter 7 liquidation Oct. 15. The defense engineering and professional services company listed $440,000 in assets and $325,238 in liabilities.
Independent Folder Services of Chantilly filed for Chapter 7 liquidation Oct. 15. It listed assets of $37.58 and liabilities of $278,779.