Crown: Even if the bankruptcy liquidation of the ipad trademark lawsuit does not stop
Source: Internet
Author: User
The Shenzhen crown, which competes with Apple for the ipad's China trademark, has recently been filed for bankruptcy by creditor-rich-state insurance. Shenzhen only Crown Chairman Yang March 6, said that even if the bankruptcy liquidation, the ipad trademark ownership of the lawsuit will not be suspended, trademark compensation is enough to pay off the debt. The ipad trademark controversy has not stopped the production of electronic products in Shenzhen, the crown why would owe the Taiwan Fubon products insurance Nearly 60 million yuan trillion debt? Yang explained that we do not have any business dealings with Fubon Insurance, is only the crown of Taiwan's supplier of the company to sell the accounts receivable to the Fubon insurance, to transfer its claims to the insurer. Shenzhen crown and Apple ipad trademark Litigation Second instance the case has not yet been adjudicated, and the filing of a bankruptcy settlement in Fubon has added to the uncertainty. Once the court ruled that the Shenzhen Crown had entered the bankruptcy liquidation process, two companies would suspend lawsuits for the ipad trademark ownership. The subject of the ipad's mainland trademark lawsuit will be changed from Shenzhen to a court-appointed administrator, and Apple will face an unknown adversary. The first to die? In November 2010, Shenzhen Chinese court ruled that Shenzhen only paid 8.6797 million U.S. dollars to the Fubon insurance. Plus the case of the first instance of processing fees and delayed performance, three total of about 60 million yuan. A full six months later, the Shenzhen Yantian District People's Court issued a notice of enforcement. But in the past 1 months, the Shenzhen Crown has neither declared the enforceable property to the court nor executed the contents of the verdict. The Yantian District court found that the property seized and disposed of in the course of its execution had been used for mortgage loans and that the bank had a prior right to compensation, and the Court accordingly considered that there was no other property available for implementation in Shenzhen. In view of Shenzhen only the crown can not repay due debt, June 27, 2011, Fubon Insurance to Shenzhen in accordance with the law to submit applications, request the Court declared Shenzhen only crown bankruptcy and its bankruptcy liquidation. The same year December 27, Shenzhen, the court held a bankruptcy hearing on the case. At the hearing, Shenzhen only Crown legal representative Yang admitted to be insolvent, we told the court, the Crown is with the United States Apple Inc. on the ipad trademark litigation, the future may use compensation to repay debt, so we still have assets to dispose of, ask not to do bankruptcy liquidation. But the consultation package we offer is not acceptable to Fubon. As for the specific content of the coordination programme, Yang said it was inconvenient to disclose. Fubon insurance is that, in view of the above trademark litigation decision has not come into force, Shenzhen only the crown with future unpredictable compensation to prove its debt solvency, lack of persuasion. In accordance with the provisions of the Bankruptcy law, the Shenzhen Chinese Court has extended the examination of the bankruptcy application. Chen Yu, a senior partner of China Silver (Shenzhen) Law firm, said that it had issued a request for an application for bankruptcy as soon as possible on February 20, 2012. Guangdong Tong Fu law firm Song Zhenhua said that if Shenzhen in the statutory period does not make a decision whether to accept the bankruptcy application, Fubon Insurance can directly to the Guangdong Provincial high people's Court to apply, which means that the fate of Shenzhen crown will depend on the broadThe ruling of the Eastern High Court. The bankruptcy law stipulates that, once the court decides to accept the application, the ipad trademark lawsuit between Shenzhen Crown and US Apple will be suspended in accordance with law. The lawsuit will continue after the court-appointed administrator takes over the Crown property in Shenzhen. That Shenzhen only the crown will face before the first death of the embarrassing situation. It would be good for creditors to get the ipad's trademark use compensation from Apple, even if the bankruptcy liquidation does not stop the ipad lawsuit. The company must consider the most advantageous option for both creditors and shareholders. Yang that the court has not yet entertained the case. Even if accepted, we can also coordinate with creditors. In case of real bankruptcy, the Crown can also apply for asset reorganization. Rich state motives of the controversy before, the spread of Shenzhen only the crown has a current liabilities of 2.87 billion yuan and 3.8 billion yuan overdue loans. A October 2010 announcement also revealed that the group's net current liabilities were HK $2.866 billion, of which HK $3.834 billion had been overdue as at September 16, 2009. In addition, only the crown of international member companies have been brought into action to repay the loan amount of about 1.584 billion yuan. Only Crown International is the crown of Shenzhen's parent company March 6, Yang first revealed Shenzhen only the real total debt, last year's bankruptcy hearings, we submitted to the Shenzhen of the list of liabilities, the total amount of about 2.4 billion yuan. Song Zhenhua said the Shenzhen centre could be liquidated immediately if it was ultimately determined that insolvency did not include Apple's possible future compensation. Otherwise, it is necessary to wait for the Guangdong Provincial High Court to sue the Crown case of the final verdict. Previous media reports said on behalf of Shenzhen only the Crown is responsible for and the Apple lawsuit and June venture, its related personage has said, the rich state insurance filed the bankruptcy liquidation application The motive is very suspicious, because Shenzhen only crown even if the bankruptcy liquidation, is also the bank's money first, Fubon insurance as a small creditor not to get how much. However, and June entrepreneurial news director Huang Yiding 6th to this reporter said, his own fubon prosecution only the crown bankruptcy is not informed, inconvenient to comment. Fubon Insurance agent Chen Yu said, from the time line, the Shenzhen Chinese court to our case of Shenzhen only the decision time is November 29, 2010, our application for Shenzhen only crown bankruptcy is June 27, 2011, and Apple v. Only the Crown case of the decision time is November 17, 2011, In other words, we apply for the Crown bankruptcy first, and Apple and the Crown case of the verdict in the middle of the difference is nearly six months. Our purpose of filing a bankruptcy application is to apply a statutory bankruptcy liquidation procedure to seek fair compensation. Yang also frankly said that the rich state insurance does not need to do such a harmful thing, the suspension of litigation is not good for them.
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