Syntax Trust To Settle 2 Suits Against Execs For $3M

Law360, New York (June 17, 2010, 7:30 PM EDT) -- Looking to prevent insurance proceeds from being completely drained by legal fees, the liquidation trust in Syntax-Brillian Corp.’s bankruptcy case has entered into a $3 million deal that would resolve two suits against several of the television maker’s former directors and officers.

SB Liquidation Trust filed a motion Wednesday asking the U.S. Bankruptcy Court for the District of Delaware to approve an assignment agreement among the trust, the company officials and Silver Point, as well as an allocation agreement between the trust and Silver Point....
To view the full article, register now.