Judge OKs Syntax-Brillian Liquidating Plan

Law360, New York (July 9, 2009, 12:00 AM EDT) -- A federal judge has signed off on television manufacturer Syntax-Brillian Corp.'s second amended Chapter 11 liquidating plan, filed March 11.

Monday's order, in the U.S. Bankruptcy Court for the District of Delaware, puts a trustee in charge of two trusts, seen as critical in the dispersal of remaining company assets to creditors, and also tasks the trustee with closing the bankruptcy case.

Under the amended plan, prepetition lenders will have a total allowed claim of $125 million, of which $70 million will be an unsecured deficiency...
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