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On July 8, 2008, Syntax-Brillian filed for protection under [[Chapter 11, Title 11, United States Code|Chapter 11 of the U.S. Bankruptcy Code]].,[[https://archive.today/20120906043325/http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6036480 Company form 8K filed July 8, 2008]][[http://phx.corporate-ir.net/phoenix.zhtml?c=146224&p=irol-newsArticle&ID=1172491&highlight= Syntax-Brillian Announces Asset Purchase Agreement, Files Voluntary Petition for Chapter 11 Reorganization to Facilitate Sale]][{{cite web|title=Syntax-Brillian Corporation Chapter 11 Petition|url=https://www.pacermonitor.com/view/DJQFVXA/SyntaxBrillian_Corporation_et__debke-08-11407__0001.0.pdf|website=PacerMonitor|accessdate=7 June 2016}}][[http://www.azcentral.com/arizonarepublic/business/articles/2008/07/09/20080709biz-syntaxbrillian0709.html Syntax-Brillian files for Chapter 11 amid suits, climbing debt], The Arizona Republic, July 9, 2008] On July 21, 2008 the company reported that its [[stock]] was to be [[delisted]] from the [[Nasdaq]] Stock Market due to listing violations and its filing for protection under Chapter 11.[[http://phx.corporate-ir.net/phoenix.zhtml?c=146224&p=irol-newsArticle&ID=1176980&highlight= Syntax-Brillian Corporation Receives Notice of Delisting] Company press release, July 21, 2008] Syntax-Brillian sees no value for its [[stock|common stock]] after Chapter 11.[[http://www.marketwatch.com/quotes/brlcq marketwatch.com, July 8, 2008]][[https://www.forbes.com/2008/07/08/syntax-brillian-vivitar-markets-equity-cx_lal_0708markets15.html?partner=yahootix Syntax-Brillian Switches Off The Set], Forbes.com, July 8, 2008] |
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On July 8, 2008, Syntax-Brillian filed for protection under [[Chapter 11, Title 11, United States Code|Chapter 11 of the U.S. Bankruptcy Code]].,[[https://archive.today/20120906043325/http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6036480 Company form 8K filed July 8, 2008]][[http://phx.corporate-ir.net/phoenix.zhtml?c=146224&p=irol-newsArticle&ID=1172491&highlight= Syntax-Brillian Announces Asset Purchase Agreement, Files Voluntary Petition for Chapter 11 Reorganization to Facilitate Sale]][{{cite web|title=Syntax-Brillian Corporation Chapter 11 Petition|url=https://www.pacermonitor.com/view/DJQFVXA/SyntaxBrillian_Corporation_et__debke-08-11407__0001.0.pdf|website=PacerMonitor|accessdate=7 June 2016}}][[http://www.azcentral.com/arizonarepublic/business/articles/2008/07/09/20080709biz-syntaxbrillian0709.html Syntax-Brillian files for Chapter 11 amid suits, climbing debt], The Arizona Republic, July 9, 2008] On July 21, 2008 the company reported that its [[stock]] was to be [[delisted]] from the [[Nasdaq]] Stock Market due to listing violations and its filing for protection under Chapter 11.[[http://phx.corporate-ir.net/phoenix.zhtml?c=146224&p=irol-newsArticle&ID=1176980&highlight= Syntax-Brillian Corporation Receives Notice of Delisting] Company press release, July 21, 2008] Syntax-Brillian sees no value for its [[stock|common stock]] after Chapter 11.[[http://www.marketwatch.com/quotes/brlcq marketwatch.com, July 8, 2008]][[https://www.forbes.com/2008/07/08/syntax-brillian-vivitar-markets-equity-cx_lal_0708markets15.html?partner=yahootix Syntax-Brillian Switches Off The Set], Forbes.com, July 8, 2008] |
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The company entered into an asset purchase agreement to sell all of its assets besides those of its Vivitar unit to newly created Olevia International Group, LLC, which is owned by TCV Group, provider of plastic injection molded parts for the Olevia branded widescreen [[HDTV]]s. In exchange for the purchased assets, Olevia International Group agreed to assume $60.0 million of Syntax-Brillian's [[secured debt]]. The proposed sale was anticipated to close by August 31, 2008.[ However, the transaction with TCV Group never closed. Instead, in May 2009, [[Emerson Radio|Emerson Radio Corp.]] purchased the assets of Syntax-Brillian including the Olevia brand name.][[http://www.redorbit.com/news/technology/1686826/emerson_radio_corp_acquires_assets_of_consumer_electronics_brand_olevia/index.html Emerson Radio Corp. Acquires Assets of Consumer Electronics Brand Olevia]] |
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The company entered into an asset purchase agreement to sell all of its assets besides those of its Vivitar unit to newly created Olevia International Group, LLC, which is owned by TCV Group, provider of plastic injection molded parts for the Olevia branded widescreen [[HDTV]]s. In exchange for the purchased assets, Olevia International Group agreed to assume $60.0 million of Syntax-Brillian's [[secured debt]]. The proposed sale was anticipated to close by August 31, 2008.[ However, the transaction with TCV Group never closed. Instead, in May 2009, [[Emerson Radio|Emerson Radio Corp.]] purchased the assets of Syntax-Brillian including the Olevia brand name.][[http://www.redorbit.com/news/technology/1686826/emerson_radio_corp_acquires_assets_of_consumer_electronics_brand_olevia/index.html Emerson Radio Corp. Acquires Assets of Consumer Electronics Brand Olevia]] |
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On November 21, 2006 the company acquired for $26 million in stock [[privately held company|privately held]] '''[[Vivitar]] Corporation''', a seller of [[digital cameras]] and [[camcorders]], which it operated as a wholly owned subsidiary. Subsequent to its bankruptcy filing, the company sold the Vivitar [[brand name]] and [[intellectual property]] to privately held Sakar International, Inc. The sale did not include Vivitar's equipment, facilities or [[accounts receivable]] and terms were not disclosed.[[https://web.archive.org/web/20090112074724/http://www.reuters.com/article/pressRelease/idUS94971+25-Aug-2008+BW20080825 Sakar Acquires Vivitar Brand, Expanding Footprint in Camera Business] Reuters, August 25, 2008] The deal to acquire Vivitar was subsequently named "Turnaround Atlas Awards' Special Situations M&A Deal of the Year".[[http://www.tmcnet.com/usubmit/2009/07/07/4259670.htm]KPMG Vivitar Deal Named M&A Deal of the Year at Turnaround Atlas Awards] |
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On November 21, 2006 the company acquired for $26 million in stock [[privately held company|privately held]] '''[[Vivitar]] Corporation''', a seller of [[digital cameras]] and [[camcorders]], which it operated as a wholly owned subsidiary. Subsequent to its bankruptcy filing, the company sold the Vivitar [[brand name]] and [[intellectual property]] to privately held Sakar International, Inc. The sale did not include Vivitar's equipment, facilities or [[accounts receivable]] and terms were not disclosed.[[https://web.archive.org/web/20090112074724/http://www.reuters.com/article/pressRelease/idUS94971+25-Aug-2008+BW20080825 Sakar Acquires Vivitar Brand, Expanding Footprint in Camera Business] Reuters, August 25, 2008] The deal to acquire Vivitar was subsequently named "Turnaround Atlas Awards' Special Situations M&A Deal of the Year".{{Citation needed|date=April 2026}} |
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