Syntax-Brillian shareholder calls for trustee appointment, shareholder meeting

By Caroline Salls

Pittsburgh, Feb. 4 - Syntax-Brillian Corp. shareholder Charles M. Cerny has asked the U.S. Bankruptcy Court for the District of Delaware to order appointment of a trustee for the company's bankruptcy case and order a shareholder meeting or vote "to invoke corporate democracy/governance as afforded by the State of Delaware," according to Wednesday court filings.

"Shareholders have only a smattering of rights, one of them is the right to corporate democracy especially under Delaware law," Cerny said in the shareholder meeting motion.

In addition, Cerny said Syntax-Brillian's proposed plan of reorganization "eliminates shareholders' voices, this would be the only opportunity for shareholders to have a say."

Meanwhile, Cerny said a trustee should be appointed by the Department of Justice in response to examiner James S. Feldman's finding of fraud in the company's case.

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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