Key Image sought protection from creditors.

In its filing to reorganize under Chapter 11 of the U.S. Bankruptcy Code, the Chatsworth-based firm cited a "severe liquidity crisis" partly stemming from its inability to sell some assets. Key Image Systems listed $2 million in assets against $1.3 million in liabilities. The firm, which makes computer systems that use video cameras to identify images, posted a net loss of $1.3 million on sales of $1.3 million in the nine months ended Dec. 31, 1985.

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