According to reports, Taiwanese company Proview, which has been in an ongoing legal battle with Apple over ownership of the iPad trademark in mainland China is on their way to bankruptcy.
The Associated Press reports (via GigaOM) that Fubon Insurance, a creditor for Proview seeks $8.68 million that they are owed. They have even applied to have Proview declared bankrupt. It doesn’t seem that things are going Proview’s way at all, and they are blowing a good deal of money on legal fees on the gamble that Apple may owe them in the end or simply decide to settle.
Proview’s lawyers don’t seem bothered by it, it is report. However, as GigaOM notes, “though it can’t be comforting to know that you’re representing the case of a company in dire financial straits against one of the richest companies on the planet.” They’ve got that right.
This probably won’t end well for Proview.
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