Headphone maker Muzik Inc. filed for Chapter 11 in California, itemizing a slew of potential high-profile fairness holders that embrace musicians Drake and T.I. and NBA gamers Chris Paul and Bradley Beal.
The Los Angeles-based firm additionally named, in court docket papers filed Wednesday, potential fairness holders together with musician Travis Barker, NFL participant Brandon McManus, MLB participant Matt Kemp, combined martial artist Brian Stann, and a belief related to Lionel Richie.
Muzik listed belongings and money owed between $10 million and $50 million.
The wi-fi headphone developer’s unsecured claims embrace an estimated $2.2 million worker severance lawsuit and a roughly $800,000 Paycheck Safety Program mortgage, in keeping with an organization submitting.
Drake, whose actual title is Aubrey Graham, and T.I., whose actual title is Clifford Joseph Harris Jr., are amongst a number of celebrities listed as potential fairness holders within the firm’s Chapter 11 petition. Others embrace Twitter Inc., NBA participant Kyle Lowry, and KZC Leisure LLC, an organization related to actress Zendaya, in keeping with the petition.
The celebrities’ names had been included in what the corporate referred to as an “Fairness Holders’ Listing” filed in chapter court docket alongside the Chapter 11 petition. The corporate stated it filed the checklist “pursuant to the Native Chapter Guidelines,” however that “the inclusion of a person or entity herein doesn’t imply that such particular person or entity is an fairness holder of the Debtor.”
The submitting didn’t present extra details about the names on the checklist.
In a 2020 press launch, the corporate stated it had partnered with greater than 80 “icons” in sports activities, trend, music, and expertise as a part of its good headphone expertise.
Muzik is represented by Levene, Neale, Bender, Yoo & Golubchik.
The case is Muzik, Inc., Bankr. C.D. Cal., No. 23-16304, 9/27/23.
