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BenQ rejects lawsuits from BenQ Mobile's insolvency administrator
Published in Saudi Press Agency on 25 - 07 - 2007


Taiwan's electronics giant BenQ Corp Wednesday
rejected lawsuits by the insolvency administrator of BenQ Mobile
seeking million-dollar payments BenQ allegedly owes BenQ Mobile, according to dpa.
"BenQ was informed that Martin Prager, the insolvency
administrator of BenQ Mobile, has filed two lawsuits against BenQ in
a Munich court, claiming payments of about 1.2 million euros (1.5
million US dollars) and about 68.9 million euros (89.5 million US
dollars) respectively, BenQ said in a statement.
"The lawsuits arose from certain account payables made by BenQ
Mobile to BenQ in 2006. BenQ believes the payments were paid as
ordinary payments for goods sold. BenQ is questioning whether BenQ
Mobile has a legal basis to make the claim and has retained legal
counsel to handle the litigations. It is the preliminary assessment
of counsel that the evidence put forward by Mr Prager to support the
lawsuits appears to be relatively weak," it said.
"BenQ reserves the right to hold the IA of BenQ Mobile accountable
for any action taken or statement made without legal basis which
damages the goodwill and interests of BenQ," it said.
The statement said that the spin-off of BenQ's branding business
from its OEM business was proceeding smoothly, and the litigation
would not have an impact on BenQ's finances.
BenQ made international headlines when it bought the loss-making
cellphone unit of Siemens in 2005 to form BenQ Mobile to design the
Siemens-Ben line of cell phones. Siemens allowed BenQ to use its
brand to make cellphones for five years.
But in September 2006, BenQ stopped investing in BenQ Mobile,
citing losses of 840 million euros (1.1 billion US dollars) on delays
in new models, causing BenQ Mobile to file for bankruptcy and
throwing its 3,000 staff out of work.
On March 21, 2007, 4,350 creditors of Benq Mobile met in Munich to
prepare to claim 1.2 billion euros (1.6 billion dollars) in
compensation from BenQ. Creditors include BenQ Mobile employees and
Brazilian soccer star Ronaldo, who appeared in a 2005 TV commercial
promoting BenQ Mobile.
BenQ denied that it had any responsibility to the overseas
creditors.


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