March 6 Proview Technology (Shenzhen),
embroiled in a legal battle with Apple Inc over the
iPad trademark, is in talks with a Taiwan creditor that is
seeking its bankruptcy, Proview's chairman and lawyer said on
Taiwan's Fubon Insurance, one several Proview creditors and
a unit of Fubon Financial Holding Co Ltd, has applied
to the courts for bankruptcy proceedings against Proview because
of $8.68 million in outstanding debt, lawyers and media reports
If the courts accept the bankruptcy application, it could
disrupt Proview's high-profile lawsuit with Apple being heard at
the Guangzhou high court, which has yet to make a decision on
whether Apple has infringed upon Proview's claim to the iPad
trademark, lawyers and analysts said.
"We are in talks with Fubon now. We will want to protect our
creditors," Proview Technology Chairman Yang Long-san told
Proview's lawyer from Grandall Legal Group, Roger Xie, said
other creditors had not made similar applications.
"The rest of the creditors understand the situation and they
know Proview still has some assets, such as the iPad trademark,
which could be used to pay back its loans," he said.
Proview's main creditors are Bank of China Ltd
, China Minsheng Banking Corp Ltd ,
China Development Bank, China Guangfa Bank, Bank of
Communications Co Ltd, Shanghai Pudong Development
Bank Co Ltd, Hua Xia Bank Co Ltd and
Shenzhen Pingan Bank.
The legal tussle between Apple, the world's most valuable
company, and Proview, whose Hong Kong-listed parent Proview
International Holdings Ltd is near bankrupt, has
escalated in recent months, with the iPad 3 due to launch this
Last week, the Higher People's Court of Guangzhou heard an
appeal by the U.S. company on the iPad lawsuit, although lawyers
said a decision would not be reached for weeks or months.