UPDATE 1-CHAD Therapeutics files for Chapter 7 bankruptcy

NEW YORK Fri Feb 20, 2009 2:56pm EST

NEW YORK Feb 20 (Reuters) - CHAD Therapeutics Inc CHAD.PK, a California company that make devices for sleeping disorders under the name Dormio Tech, filed for Chapter 7 bankruptcy last month and has ceased operations, according to a regulatory filing Friday.

The company listed assets of less than $1 million but liabilities greater than $10 million, according to documents filed Jan. 5. in federal bankruptcy court. CHAD said a bankruptcy trustee has been appointed.

The case is In re: 09-bk-10040, U.S. Bankruptcy Court for the Central District of California. (Reporting by Phil Wahba, editing by Gerald E. McCormick)