Syntax-Brillian Execs Cost Co. $300M: Creditors

Law360, New York (November 26, 2008, 12:00 AM EST) -- Creditors of bankrupt TV maker Syntax-Brillian Corp. have sued several of the company's officers and directors for allegedly failing to implement adequate financial controls in deals with Chinese suppliers and distributors, costing the company more than $300 million.

In a complaint filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, the official committee of unsecured creditors in SBC's bankruptcy accused former officers of Syntax Group Corp., which merged with Brillian Corp. in 2005 to form SBC, of managing the company for the benefit...
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