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Proview creditor moves to have company liquidated

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.



By Electronista Staff
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Comments

  1. Paul Huang

    Dedicated MacNNer

    Joined: Sep 1999

    +4

    Now...

    ProView is rushed for time before the 'company' gets butchered.

  1. testudo

    Forum Regular

    Joined: Aug 2001

    +7

    perfect sense

    As Proview probably has no assets except the patent, the insurance company probably want the rights before the court case is settled, so they can get all the proceeds, not just what they're due...

  1. Geoduck

    Junior Member

    Joined: Jan 2010

    +8

    Perfect sense but

    I find it equally plausible that the creditor expects Proview to lose big in court and wants them liquidated before they flush any more money down this rathole.

  1. elroth

    Junior Member

    Joined: Jul 2006

    +5

    huh?

    Since an alias is a false name, what is a "false alias"?

  1. cgavula

    Fresh-Faced Recruit

    Joined: Jan 2011

    +4

    OK

    So in one country they are making a lawsuit claiming Apple never obtained the rights, but in another they are claiming they obtained them falsely. Which is it? Did they obtain the rights or not?!? What a bunch of c***.

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