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

Alexandria Division

Innovative Building Products Inc.

25291 Pleasant Valley Rd., Chantilly, Va. 20152

Type of filing: Chapter 7 liquidation

Case number: 05-12206

Date filed: June 9

Attorney: Kevin M. O'Donnell, 703-273-6884

Assets: Zero to $50,000

Liabilities: $91,317

Largest unsecured creditor: Rocky Top Wood Preservers Inc., $72,228

Maryland District

Greenbelt Court

Craftworks Design Inc.

8802 Frank Trippett Rd., Upper Marlboro, Md. 20772

Type of filing: Chapter 11 reorganization

Case number: 05-23313

Date filed: June 8

Attorney: Richard M. McGill, 301-627-5222

Assets: $100,000 to $500,000

Liabilities: $50,001 to $100,001

Largest unsecured creditor: IRS $13,057

District Court

Independence Management Company Inc

668 Independence Ave. SE, Washington, D.C. 20003

Type of filing: Chapter 11 reorganization

Case number: 05-00868

Date filed: June 2

Attorney: Richard M. Goldberg

Assets: $1,000,001 to 10,000,000

Liabilities: $1,000,001 to 10,000,000

Largest unsecured creditor: Not disclosed

-- Compiled by Elliot Postell