Judge Approves $23M Syntax-Brillian Financing Deal

Law360, New York (August 8, 2008, 12:00 AM EDT) -- A bankruptcy judge approved a final financing deal for TV maker Syntax-Brillian Corp. on Thursday, allowing the company to borrow up to $23 million as it continues its voluntary Chapter 11.

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware granted Syntax-Brillian's July 8 request, ruling that the company had shown “an immediate and critical need” to obtain financing under the Post-petition Credit Agreement.

As part of the post-petition financing plan, Syntax-Brillian's lenders are now authorized to receive liens and “super...
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