Olevia TV-Maker Files For Bankruptcy. Goodbye, Warranties.

If you have an Olevia TV, your warranty is probably going to be worthless now. Parent company Syntax-Brillian has filed for Chapter 11 bankruptcy protection. Olevia is going to be spun off into its own limited liability company. An Engadget commenter suggests that after the bankruptcy proceedings, Syntax-Brillian will have no assets, only liabilities. In accounting terms, outstanding warranties are a liability. It’s just an educated guess, but don’t plan on counting on Olevia to fulfill their warranties (not like they were so great at service to begin with). Instead, if you bought an Olevia on a credit card, you may have extended warranty protection through your credit card company, as Meghann describes in a recent post (see number 6).

1-Syntax-Brillian files for Chapter 11 bankruptcy [Reuters]