These firms recently filed 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.
Eastern Virginia District
RM Faught Inc. of 809 Bay St., Woodbridge, filed for Chapter 7 liquidation Sept. 20. The company listed assets and liabilities each as zero to $50,000.
Virginia Pool Management Inc. of 13944-H Willard Rd., Chantilly, filed for Chapter 11 reorganization Sept. 17. The company listed assets as $50,000 to $100,000 and liabilities as $100,000 to $500,000.
Nitel Corp. of 15408 Pine Tree Ct., Mitchellville, filed for Chapter 7 liquidation Sept. 22. The company listed assets as zero to $50,000 and liabilities as $100,000 to $500,000.
Mitchell W. Zajac Custom H.B. Inc. of 9755 Tara Dr., Dunkirk, filed for Chapter 11 reorganization. The company listed assets as $1 million to $10 million and liabilities as $500,000 to $1 million.