Syntax Trust Urges 3rd Circ. To Revive Preferred Bank Suit

Law360, Philadelphia (December 16, 2013, 5:11 PM EST) -- An attorney for the liquidation trust of television manufacturer Syntax-Brillian Corp. urged the Third Circuit on Monday to revive a complaint aimed at holding Preferred Bank liable for providing financing for a multimillion-dollar fraud scheme allegedly concocted by a group of the company’s officers.

Michael Yoder, an attorney with Diamond McCarthy LLP representing SB Liquidation Trust, told a three-judge panel that a Delaware bankruptcy judge erroneously dismissed fraudulent transfer claims against Preferred Bank for lack of evidence that it was aware its financing was being funneled...
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