Syntax-Brillian plan of liquidation approved by most voting creditors

By Caroline Salls

Pittsburgh, April 15 - Syntax-Brillian Corp.'s plan of liquidation was accepted by a majority of voting creditors, according to the vote tabulation filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

All five holders of $125 million in pre-bankruptcy credit facility claims voted to accept the plan.

Meanwhile, 82 holders, or 78.85% in number, of $79.83 million, or 99.53% in amount, of general unsecured claims voted to accept the plan, and 22 holders, or 21.15% in number, of $379,306, or 0.47% in amount, of these claims voted to reject it.

The plan confirmation hearing is scheduled for April 21.

Syntax-Brillian is a Tempe, Ariz.-based designer, developer and distributor of LCD HDTVs, digital cameras and microdisplay entertainment products. The company filed for bankruptcy on July 8, 2008. Its Chapter 11 case number is 08-11407.

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