Court Approves Syntax-Brillian DIP Financing

Law360, New York (July 10, 2008, 12:00 AM EDT) -- On Wednesday, Syntax-Brillian Corp. received court approval for several motions that it had filed Tuesday along with its voluntary Chapter 11 petition, including an interim financing deal that allows the television maker to borrow up to $7.5 million immediately.

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware approved the debtors' first-day motions and an interim senior secured superpriority debtor-in-possession credit and guaranty agreement with Silver Point Finance LLC.

Under the credit facility, the debtor now has access to up to...
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