Sanctions Against Syntax-Brillian Asset Buyer Halted

Law360, New York (November 13, 2009, 4:50 PM EST) -- A federal judge has stayed further accrual of sanctions imposed against Olevia International Group LLC in 2008 for failing to pay a $55 million judgment in a lawsuit accusing it of defaulting on a deal to acquire assets from defunct TV maker Syntax-Brillian Corp.

Judge Brendan L. Shannon, of the U.S. Bankruptcy Court for the District of Delaware, ruled Wednesday that Olevia — a company created by Syntax-Brillian's Taiwanese supplier TCV Group to acquire Syntax-Brillian's assets — would no longer incur any additional sanctions under a...
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