The week in bankruptcies: 2 entities in Greater Washington

The Washington Business Journal offers a weekly roundup of bankruptcy filings in the region based on public records collected by parent company American City Business Journals.

During the week that ended Jan. 14, Washington-area bankruptcy courts recorded two business filings — including one with total debt above $1 million. Year to date through Jan. 14, the court recorded three Chapter 7 or Chapter 11 business bankruptcy filings, a 25% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor obligations with the goal to remain a going concern.

Hope Montessori School Ltd. filed for voluntary Chapter 7 bankruptcy protection Jan. 5 in the Eastern District of Virginia. The debtor listed an address of 4614 Ravensworth Road, Annandale, and is represented in court by attorney Maurice VerStandig. Hope Montessori…

Read the full story from the Washington Business Journal.
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