Proview Files for Bankruptcy

ProviewIn the midst of a major lawsuit that they launched against apple, Proview Electronics has officially filed for bankruptcy. One of Proview’s major creditors, Fubon Insurance, is owed USD $8.68 million dollars and has stated they have rejected the ailing monitor company’s pleas and are unwilling to wait until the results of the legal action are known.

Though Proview has not released much information about the bankruptcy filing yet, a spokesperson from the company did state that, “It’s a sensitive case in a sensitive period of time, so we won’t comment or release information while we will have an announcement in the near future.”

Ma Dongxiao, a lawyer for Proview, had additional details to add by saying that their bankruptcy will not affect the ongoing legal battle with Apple.

This news comes as no surprise with several reports indicating the company was doing poorly and near extinction. Senior executives with the company have often been quoted as saying that should they be awarded the considerable settlement they are seeking from Apple they will be able to rebuild their company and surpass their competition.

Proview has expressed interest in negotiating a settlement with Apple prior to the conclusion of the case but thus far Apple has not formally expressed interest in doing so. In fact, the only public statements coming from Apple on the matter insist that they rightfully own the iPad trademark in question. Not only that, Apple has also threatened a fresh lawsuit of their own indicating defamation after Proview accused them of making false and misleading statements regarding the trademark case.

Public perception being what it is, it seems like an obvious conclusion that Proview is looking for a payday from Apple (a company with deep pockets) in an effort to rejuvenate their ailing business and prevent being delisted from the Hong Kong Stock Exchange.

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