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Apple said offering Proview $16 million in settlement [U]

updated 12:50 am EDT, Fri May 11, 2012

Sum would fall well short of repaying Proview creditors

[Update: Proview said to have rejected the offer] The settlement offer Apple is extending to Proview is valued at $16 million, according to local reports. Earlier this week a Proview lawyer claimed that the two parties were discussing a compensation package, and that Apple had even named an amount, but at the time he declined to provide any more details. If accurate, the $16 million figure will still fall well short of the $63 million Proview owes to creditors as a part of its bankruptcy.

A settlement suggests that Apple is either unable or just unwilling to contest Proview's claims. While Apple has asserted that it acquired the rights to the mainland Chinese iPad trademark from Proview's Taiwanese division, Proview has insisted that they were separately owned by Proview Shenzhen. At one point, reports emerged claiming evidence in Apple's favor, but nothing appears to have come from them in practice.

The trademark dispute could explain why the third-generation iPad has yet to launch in mainland China. The iPad 2 is still available there, but Apple may be reluctant to introduce another product to the market until it can be sure it won't incur heavy financial penalties.

Update: Chinese website Sina is reporting that Proview has turned down the offer as too low.



By Electronista Staff
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  1. prl99

    Dedicated MacNNer

    Joined: Mar 2009

    +5

    still too much

    Proview won't get anything anyway so Apple is fighting the creditors, which could be worse for them. At this point, Apple needs to consider how much money they will have to continue to spend fighting the battle in China versus making a minor payment to the banks to settle this mess. When it all ends, Apple better own exclusive rights to the iPad name around the world with no strings attached. If not, I would continue to fight the courts.

  1. Fonejacker

    Fresh-Faced Recruit

    Joined: Jan 2010

    +6

    prl99

    I think this iPad issue is just in China. If I was Apple, I would just make this token offer, of $16 million, withdrawn in 3 days, and change the name to Apple Tablet just for China. Even if Proview, win, highly unlikely, the fine will be less than $16 million. China is a very strange, but fascinating country, especially legal rights or no rights, depending on your view. Not sure how a bankrupt company can still go to court, am sure the lawyers aren't working for free. I think Proview are just trying desperately to get as much money as possible to start again. Maybe they shouldn't have gone bust in the first place. Glad they are gone, hope to see this boring saga end, soon, with an Apple victory.

  1. prl99

    Dedicated MacNNer

    Joined: Mar 2009

    +4

    Fonejacker

    Actually, the banks/creditors are the ones running the lawsuit and will be the only ones who make any money. Proview is dead and I doubt the creditors will use any more of their money to resurrect it. Proview owes the banks a lot of money and that's all that matters to the banks. They could care less about the trademark or Proview, they just want to recover some money. I wish the courts would see through this mess and understand Proview owns nothing except a whole lot of bills.

  1. testudo

    Forum Regular

    Joined: Aug 2001

    0

    Re: still too much

    Proview won't get anything anyway so Apple is fighting the creditors, which could be worse for them.

    Nope, that isn't the case, since the bankruptcy judge rejected a claim by a creditor to take over the company. In bankruptcy, the creditors have no control over what a company does, its the trustee, who's job is to grab as much money to pay off as much of the creditors as possible (and they have to take into account ALL creditors, not just one or two big ones or the like).

    And that depends also on what type of bankruptcy. Are they liquidating or restructuring?

    When it all ends, Apple better own exclusive rights to the iPad name around the world with no strings attached. If not, I would continue to fight the courts.

    That assumes they own all the rights around the world except for China. If some other company owns the rights in, say, the Netherlands, this case has no bearing on that situation.

  1. testudo

    Forum Regular

    Joined: Aug 2001

    0

    Re: Fonejacker

    Actually, the banks/creditors are the ones running the lawsuit and will be the only ones who make any money. Proview is dead and I doubt the creditors will use any more of their money to resurrect it.

    Why would the creditors give a damn about resurrecting the company? If you were owed, say, $4 million by a company in bankruptcy, would your thoughts be "Hmmmm, what can I do to help that company get back on its feet?" or would it be "Dammit! I'm out $4m!!! I want my money you people!!!"? Oh, I'm sure the former, right...

    Proview owes the banks a lot of money and that's all that matters to the banks.

    Again, your point being? Banks shouldn't worry about money owed to them? But Proview is the company that started the suit, and they're the ones doing the suing, not the banks. The banks may fund them some more money to fund the suit, but it's still Proview's case, since they are the ones who own the trademark (or don't own it, if you will).

    They could care less about the trademark or Proview, they just want to recover some money.

    Of course they care about the trademark. If they didn't care, they wouldn't be suing. They care because its worth something. You'd care too! I know, you'd just give your trademark up to Apple, because you're just that kind of guy. Who cares about the money you owe or are owed, right.

    I wish the courts would see through this mess and understand Proview owns nothing except a whole lot of bills.

    Um, fool, that's what the whole case is about, who owns what. Apparently you've made your decision (surprise! Apple is right!) and think the courts should just rule arbitrarily that way, instead of hearing evidence and then making a decision.

    I sure hope you're not one of those people who yelled at the ITC judge for rejecting a bunch of documents from Apple in their case against samsung. For that would by hypocritical.

  1. apostle

    Junior Member

    Joined: Apr 2008

    +7

    Proview Tax

    Settle and charge a liitle more for iPad in China.

  1. davester

    Fresh-Faced Recruit

    Joined: Jul 2001

    +3

    Greedy trademark squatters

    The irony fires me up. China is the land of shameless counterfeits and trademark raping. There is no innovation there, infact I'd speculate as to whether it is a word in their language. And here we have an unknown company knowingly moving in on Apple's iTerritory and not accepting $16M for not having created anything. Parasites. Honestly, it gives me white knuckles.

  1. Flying Meat

    Dedicated MacNNer

    Joined: Jan 2007

    -1

    Fine. Offer withdrawn.

    "Chinese website Sina is reporting that Proview has turned down the offer as too low."

  1. DaJoNel

    Fresh-Faced Recruit

    Joined: Aug 2010

    +1

    An epiphany

    testudo must have worked for Proview!

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