Creditor seeks to liquidate Proview, bid fails due to Apple iPad suit
According to legal beagles experts, had the court ruled in favor of Fubon, it would have instantly ended the Proview-Apple legal battle. But things are certainly not stable as far as Proview is concerned. It owes $400 million USD and has 8 Chinese banks as creditors. The action is heating up as Apple awaits network licenses for the 3G version of its new iPad. While it has received some regulatory approval to launch its third-generation tablet in China, no date has been announced for the release of the device in the country. So far, grey market sales of the tablet have not been promising.
not the same as its Shenzhen subsidiary that originally registered the iPad name on China's mainland in 2001. Apple claims that this whole battle has been an attempt by Proview to confuse creditors and get more money from Apple.
The legal battle has managed to make it across the Chinese mainland to Hong Kong and the States. So far, the U.S. tech giant has won decisions in Shanghai and Hong Kong but is appealing a ruling in Proview's favor that occurred in Pudong.
source: ChinaDaily, TheNextWeb via AppleInsider
1. Droid_X_Doug posted on 03 Apr 2012, 07:13 0 0
I wonder if Fubon Insurance has been approached by Apple to file the motin to liquidate? I bet Fubon's claim against ProView is less than what Apple would have to pay if it were to lose the iPad trademark fight in China....
2. Lucas777 posted on 03 Apr 2012, 18:57 0 0
nah im pretty sure there was a pa article about how it woudnt be a big deal.. or maybe somewhere else... but i dont doubt that it might be corrupt... esp. in china... but they do seem quite desperate and discredited with 400 million debt...