Block Syntax Brillian (BRLC) Chapter 11 filing by the Court

Attend October 16, 2008 Next Court Hearing - 9:00 AM - ALL

The Judge will NOT do anything, unless shareholders ask!

All Shareholders Attend Hearing
Thursday October 16, 2008 9:00AM
(Arrive 1 hr early for security lines)

US Bankruptcy Court - District of Delaware,
824 N. Market Street
6th Floor, ROOM 1,
Wilmington, DE 19801
302-252-2900

On 10/6/2008 Independent Examiner James Feltman presented evidence of fraud  including - detailed invoices, bills of lading, purchase orders, etc. that led to the Chapter 11 filing. Now the estate is trying to DENY the examiner the resources to complete his investigation.

It has taken us three months to just get the court to allow for a preliminary examination and the results clearly indicate there was fraud. We need to push for a better financed and more comprehensive examination. This is just the tip of the iceberg.

Attend the Hearing Thursday October 16 at 9:00 AM in which the estate will present their internal investigation.

Where are re-tooling deposits?

Where are Silverpoint s transactions details and were they privy to insider info via Greg Rayburn/FTI?

Why are the parties that may have committed fraud obtaining OUR company for 6 cents on the dollar)?

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Attend September 3, 2008 Next Court Hearing - 10:00 AM - ALL Shareholders please plan to attend, if you can.

Link:http://www.care2.com/c2c/groups/disc.html?gpp=18721&pst=1134960
email: amramr2@gmail.com
The Court will NOT do anything, unless shareholders ask!
Shareholders, EVEN IF YOU SOLD, Plan to Attend the Hearing Wednesday September 03, 2008 10:00 AM

(Arrive 1 hr early for security lines)
US Bankruptcy Court - District of Delaware,
824 N. Market Street, 6th Floor, ROOM 1,
Wilmington, DE 19801
302-252-2900

Try to attend the September 3rd, at 10 am hearing in Wilmington, which will determine whether we get credible answers to the following questions. An independent examiner will be assigned, and the scope and budget of the investigation will be determined at that hearing. If you are there, it could make a difference on the outcome.

If you can not be there, now is the time to write a letter and Fed Express it to the judge and the US trustee.

Demand transparency in this rushed process - we have been left completely in the dark as to how so much equity evaporated so fast. The last time we received a financial report was for the quarter ending 9/30/2007, and even that report is suspect - current management has advised us that its unreliable.

During the bankruptcy hearings, current management under FTI has treated shareholders with disdain. Greg Rayburn has given us a narrative of a business model that proved to be unprofitable. Greg Rayburn insisted the sale be rushed to preserve the value of the estate. Did FTI and Silver Point have a vested interest in driving the company into bankruptcy?

Although the TCV deal is done, if it involved questionable conveyance of assets, we would have grounds for litigation. Consider the accounts receivables transferred to TCV. The accounts receivables they were around 100 million dollars mostly owned by SCHOT and Olevia Far East. It was deemed "worthless" and uncollectible.

The investigation needs to identity all the owners of SCHOT and Olevia Far East. We do not know where the boundaries are between Kolin, Digimedia, TCV, SCHOT and Syntax Brillian. Was TCV at "arms length" in the deal? Was James Li involved in it and to what extent?

The Chinese Olympics inventory (also been deemed worthless) is now supposedly held by Kolin or in customs. This inventory was conveyed to TCV in the expedited fire sale of assets. While Tooling deposits at Kolin remain in the estate, Kolin is under investigation for insider trading by the Taiwanese government.

Given the loose regulations and corruption in Taiwan, you have to go out on the edge to invite an investigation by regulators. Kolin CEO, Christopher Liu, was on the board of Syntax-Brillian and actually chaired its audit committee.

Other issues deserving a probe, include insider trading and short selling by Silver Point, Kolin or TCV. How much short selling was by parties domiciled in Taiwan? Was the Silver Point loan structured to fail?

Finally, why did the previous and current management deceive us with promising press releases? I need only mention the Compal and SRS deals. Right to the very end, the Syntax-Brillian investor relations department reassured investors that the company would be coming out with transparent financial statements.

The probe needs to determine if there was a breach of securities laws and fraud by the directors and executives of Syntax-Brillian, which we have waited in vain for the SEC to determine. Our last hope is the justice system. Last I heard, we still live in a country where laws apply to one and all. Here is a good chance to find out if we still live in that country.

Again, even if you sold, please plan to attend the September 3, 2008 10 Am Hearing - it could make a difference on the outcome.

SHAREHOLDER: Be sure to file your "PROOF OF CLAIM FORM" by September 8, 2008 with EPIQ. In the form, under "Basis of Claim" shareholders MAY want to enter "Damages resulting from Debtors Breach of Securities Laws, Fraud & Misrepresentation". If you need to obatin a Proof of Claim, its availble from EPIQ's site : http://chapter11.epiqsystems.com/Documents.aspx

How to Complete - BRLC Claim Form sent from Chapter 11 Court:   http://www.care2.com/c2c/groups/disc.html?gpp=18721&pst=1129873

August 6, 2008 - Arizona Republic Article discussing  Shareholders efforts and approval for independant examiner appointment, as a result of comments and questions raised by shareholders:
 
http://www.azcentral.com/arizonarepublic/business/articles/2008/08/06/20080806biz-syntaxbrillian0806.html

Please send comments and thank  you to Andrew Johnson, Reporter

Court Update - Pt1 Examiner appointed! Report from the hearing..8/4/2008 9:27 PM Posted by Longrichlong on the yahoo! message Board today:

Source: http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&bn=24145&tid=377677&mid=377677&tof=3&frt=4

By Quenten:
I was there today in Wilmington, DE to watch the successful appointment of an independent examiner with Monty (montraj) and one other fellow! Only three of us shareholders. But I tell you, Monty is a hero. He spoke for about half an hour while the judge listened. He was poised, comfortable, shaking his finger in Silver Point's faces and stating one piece of fact after another with a perfect balance of emotion, ferocity, and composure. I spoke briefly, as there was not much to say after Monty spoke. He pretty much covered it all. But I strongly believe that our presence was essential in the appointment of an examiner. Outside of the 3 of us, anyone who spoke seemed emotionless, and all programmed like a tape recorder. One side stated a position, the other side stated a position and it was fairly blah. But when we spoke, you could see a noticeable effect on all who were present. An electricity filled the air. Alive, human emotion entered the court room for the first time. Eyes, ears, and attention from all were glued to our stories in contrast to when others spoke in their programmed ways, many continued to fuddle with papers or look about in disinterest. Without our presence, and the fabulous preparation of Monty, the whole proceeding could have easily seemed very matter of fact and easy to dismiss the appointment of an examiner. But with the points made by us, and more importantly, faces to attach wrongful losses to, I would venture to say that it would have seemed morally improper for us and our concerns to have been cast aside, and that the value of our presence is fairly incalculable. Everyone should give a big thank you to Monty for his tremendous efforts and sacrifices to be there and prepare so well. I truly wish everyone could see a video of the hearing today. You can read the transcript, but no words can capture the feeling in the room when we spoke, the dismay on SP's (Silver Point) faces when we made one point after another against them. The look on their faces when we all first sat down, I saw them point at us, and whisper to each other 'those are some shareholders' with a tremendous dissatisfaction on their face. I was very pleased with the respect shown by the court and Judge Shannon in hearing intently and with concern all that we had to say, even questioning Monty to clarify some points, and thanking us for our efforts. He glanced towards SP several times during our speaking with a look that is hard to explain.

End of Yahoo! Board Post. by Longrichlong.
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ATTEND Next Court Hearing: August 20, 2008 11:30 AM Court Hearing:

All Shareholders that are near (can drive, train, walk, or fly) Delaware MUST  attend Wednesday's Court Hearing: 
(Arrive 1 hr early for security lines)
 
US Bankruptcy Court for the District of Delaware,  824 N. Market Street
6th Floor, ROOM 1, Wilmington, DE 19801
302-252-2900 (main)

Urgent  Your attendance will also substantiate our request for a "Shareholder Committee" to be appointed/created.

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Attendees: Our best hope is for the Appointment of an  Indepandant Examiner, as requested by the US Trustee's office. The Indepandant  Examiner will fully vet all thats happening in the past 9 months, and at the Courts request have the SEC and other agencies detemine where all the assets went, obtain a full disclosure of what the relationship(s) are between: vendors, affiliates, partners, Hedge funds, current, past, and interim management, etc.

http://chapter11.epiqsystems.com/default.aspx Click on Syntax-Brillian;  than select docket for the lastest motions, objections, schedules

Here is the Yahoo! message board link (its still active - for now):
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/forumview?bn=24145
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ITEM THREE (3): get other Shareholders to sign the New Petition
Block Round 2 Syntax Brillian (BRLC) Chapter 11 filing by the Court:
http://www.thepetitionsite.com/my/dashboard/736969248
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ITEM FOUR (4): join our group, in the event the message board is shutdown.  That way we stay in contact and collaborate to justice served and the shareholders receive "fair Market Value" for their hard earned investments.
http://www.care2.com/c2c/group/BRLCDenyChap11


Petition 1

Re: Syntax Brillian Chapter 11/Case No. 08-11407 (BLS)

Dear Mr. Kenney:

We, as common shareholders are holding a significant number of shares in Syntax-Brillian (SB). The acting CEO, Mr. Rayburn, has indicated that the common shares will be worthless after the Chapter 11 reorganization and the sale of the company to a privately-owned Olevia International Group, LLC.

The shareholders, who invested their hard-earned money based on what they were told by the company, deserve some equity in the new entity, despite Mr. Rayburn s efforts to wipe us out. Mr. Rayburn appears to be using the Chapter 11 system simply to expedite the sale of the company and erase existing shareholders investment. The shareholders have not seen any financials in months; however, we were told less than a year ago that the company expected revenue to be over ONE BILLION DOLLARS for 2007. How is it that SB was unable to pay their electric bill? Where did all that revenue go?

We were told that the new contractor had an initial order to manufacture 300,000 units, with a 2008 goal of 1 million of the Olevia brand televisions. We were told that a new built-in surround sound system was in the pipeline of new products. The Olevia brand is sought after and was rated as a "Best Buy" by Consumer Reports. Insiders had been buying shares in 2008 at much higher prices.

Out of the blue, Mr. Rayburn filed for Chapter 11. The company is in debt for $60 million. What has the company done with their projected ONE BILLION DOLLARS in revenue for 2007? What has happened to the shareholders' equity? We have been kept in the dark far too long. The financials should be carefully scrutinized by the Court before any sale is allowed to go through.

We would respectfully request that a Committee be formed on behalf of the shareholders to investigate this entire transaction, and would request an answer as to whether or not the filing of the Chapter 11 was a necessary move for the company in order to remain solvent. There are many conflict-of-interest and outright fraud issues that should be investigated as well, including the role of Silver Point and the actions of the former corporation, Three Five Systems, from which SB was formed, as well as the insiders and officers of both companies.

We have a right to demand answers. Until the BK notice came up, all we had to go with was the last conference call in November 2007. We do not trust this management to do the right thing. If we must go into Chapter 11, we should not do it under this management. We demand a new board that takes our interests into consideration.

Syntax-Brillian could not lose $375 million in only 3 quarters of time. Impossible they lost at such a short time frame nearly all receivables and tooling deposits. Reality is they stole the money (tooling deposits) by accounting probably a tenfold the real amount necessary. That is why the business model collapsed. They were sophisticated thieves. And astonishing nobody here seems to realize. SB simply transferred all the money to the chinese and taiwanese companies under the umbrella of tooling deposits. Receivables so called not able to be collected from SCHOT stayed in Hong Kong.

As investors, we understand the risks involved; however in this case, with the Olevia brand that is growing in name recognition, popularity, and sales, the common shareholders deserve to receive some equity from the proposed sale of Syntax Brillian AND the alleged sale of the Vivitar unit, and until a satisfactory resolution can be made in favor of the shareholders, the SALE of the company should be blocked by the Court.

We the undersigned request that the Court Block the SALE of the company  and the Chapter 11 filing.