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.
Maryland District Rockville Court Network Investment Inc. of Suitland filed for Chapter 11 reorganization Feb. 8. The real estate investment company listed assets of $60,000 and liabilities of $33,000.
Narwood Limited Partnership, doing business as Farmbrook Shopping Center of Potomac, filed for Chapter 11 reorganization Feb. 12. The real estate company listed assets and liabilities of more than $1 million each. The company owes C.L.O.S.P. of Trappe a disputed $11,000. It also owes a disputed $5,000 to Frank Bernstein Conway of Bethesda and an undisputed $4,000 to Harris, Smariga & Associates of Frederick.
Eastern Virginia District Alexandria Division Perpetual Savings Bank of Vienna filed a petition Jan. 15 requesting that a real estate developer that owes the bank more than $2 million, Trikon Monocacy Limited Partnership of 1331 Pennsylvania Ave. NW be placed into involuntary Chapter 11 reorganization.
James W. Biggs, formerly doing business as J.W. Biggs & Co. of Arlington, filed for Chapter 7 liquidation Feb. 7. The iron-working subcontractor listed assets of $106,871 and liabilities of $125,748.
Sycom Inc., a software development and hardware maintenance firm in Chantilly, filed for Chapter 11 reorganization Feb. 7. The company listed assets of $900,000 and liabilities of $1.3 million. The company owes Memorex Telex of Chicago $14,648 and Rubino and McGeehin of Bethesda $12,834.
Hef & Hef Inc. of Manassas Park filed for Chapter 11 reorganization Feb. 7. The real estate investment and commercial leasing company listed assets of $2,113,250 and liabilities of $1,533,000. The company owes $8,000 to Hudson Supply Co. of Beltsville.
Morgan & Harris Publishing Enterprises of Mason Neck filed for Chapter 7 liquidation Feb. 12. The heavy-equipment handbook publishing company listed assets of $26,236 and liabilities of $297,167.
Sieling Associates L.P. of Clifton filed for Chapter 11 reorganization Feb. 12. The warehouse leasing company owes $311,955 to the Cafritz Group of Washington and $55,585 to Howard County. Asset and liability figures were not available.
Fullerton 3 Joint Venture filed for Chapter 11 reorganization Feb. 13. The Springfield general developer and manager of income-producing condominium warehouse sales listed assets of $1.6 million and liabilities of $1.4 million. The company owes $18,336 to Lewis and Besley Real Estate in Springfield and $15,034 to Hunton and Williams in Fairfax.
Tekton Corp. of Reston filed for Chapter 7 liquidation Feb. 13. The general contractor for commercial construction listed assets of $200,000 and liabilities of $339,840.
Perzan Corp. of Chantilly filed for Chapter 7 liquidation Feb. 14. The auto repair company listed assets of $4,957 and liabilities of $94,765.
District of Columbia IBJ Corp. of 1720 Florida Ave. NW filed for Chapter 7 liquidation Feb. 8. The real estate development company listed assets of $200 and liabilities of $394,893.
Edward Kassoff, doing business as Florida Exclusive Enterprises, also known as Bates Street Exclusive Partnership of 211 Bates St. NW, filed for Chapter 13 personal reorganization Feb. 11. The purchaser and rehabilitator of city properties listed assets of $394,000 and liabilities of $247,215.
D.M. Sherbert and Associates Inc. of 810 First St. NE filed for Chapter 7 liquidation Feb. 12. The government contract bidding service listed assets of $93,300 and liabilities of $156,768.