A major creditor of Proview Technology, the Shenzhen-based electronics company that is challenging Apple over the iPad trademark, has moved to have the cash-strapped Chinese company liquidated, mainland media have reported.
However, Proview's lawyers yesterday downplayed suggestions that the action, by the Taiwan-based Fubon Insurance, would bring a halt to the high-profile case, currently being heard by a Guangdong court.
Fubon's lawyer, Chen Yi, was quoted by China National Radio as saying that the Taiwanese company had filed for Proview's liquidation, based on US$8.68 million in outstanding debts dating back to 2010.
Ma Dongxiao, lead lawyer for Proview, dismissed the significance of the liquidation request.
'This is just an application. We will need to see what judgment the court makes before we know exactly what effect it will have, but I see no reason to be concerned,' Ma said.
Lawyers at the Beijing Zhongyin Law Firm, reported to be handling Fubon's application, could not be reached for comment yesterday.