updated 12:25 pm EST, Mon March 5, 2012
Could affect ongoing lawsuit against Apple
One of Proview Electronics' major creditors, Taiwan's Fubon Insurance, is taking steps to have Proview liquidated, according to Chinese media outlets. Fubon is reportedly asking for $8.68 million in debts from Proview, and has filed to have Proview declared bankrupt. An official at Shenzhen's Intermediate Court says he expects an announcement to be made "in the near future."
A lawyer for Proview, Ma Dongxiao, says however that the company doesn't think its financial troubles will impact the handling of an ongoing court battle against Apple. Subsidiary Proview Shenzhen claims that Apple didn't secure a trademark for the iPad name in mainland China. Apple, conversely, argues that a 2009 deal with Proview Electronics gave it rights to China among many other countries.
The company is also pursuing a separate US lawsuit which charges Apple with fraud in the way it obtained iPad trademarks. The company allegedly orchestrated a front business which lied about its intent, and even had a negotiator operating under a false alias. Apple was rushed for time before the announcement of the iPad 1, Proview states.