Filing Alert: Systematic Audio Chapter 11

Systematic Audio, LLC (d/b/a Sundown Audio), a Newton, NC-based manufacturer of car audio equipment, filed for Chapter 11 protection on Jun. 9 in the U.S. Bankruptcy Court for the Western District of North Carolina.

The company reports $10 million to $50 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-50236.

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Top Unsecured Claims

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Key Parties

Counsel:

• Eric S. Goodheart
  DLA Piper LLP (US)
  Email: eric.goodheart@us.dlapiper.com

Signatories:

• Scottie Johnson – Chief Executive Officer

Equity Security Holders:

• XS Investment Intermediate, LLC – 100% Equity Interest