LOL: Proview Sued by Law Firm Who Got Them $60 Million from Apple

If you've even casually followed the strange saga of Proview, the company who claimed to own the iPad trademark in China, you may see them as a fly-by-night. After reading this, you might think they're a bunch of deadbeats, too.

Engadget is reporting that Proview has failed to cough up fees to the attorneys who helped the near-bankrupt tech company win a $60 million settlement from Apple over the the trademark to the iPad name in China.

It seems the Grandall Law Firm, who covered Proview's legal fees in return for a four percent share of the settlement, is none too happy about being stiffed on its share of the $60 million payout -- so they're taking Proview to court in an effort to collect on the $2.4 million owed to them.

However, Proview founder Yang Rongshan says it's much ado about nothing, telling Sina Tech that the complaint is "nonsense," claiming the company, which has been knocking at death's door throughout the entire trademark spat with Apple, "isn't under normal operation right now."

Although Yang claims his company won't "pass the buck," it seems the matter may be settled in the same place where the iPad trademark was: the courtroom.

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Proview Nabs $60M from Apple in Chinese iPad Trademark Settlement

It may be well short of the $400 million nearly bankrupt technology company Proview was hoping for, but it's sure better than the $55,000 they originally received for the Chinese trademark on the iPad.

Associated Press is reporting that Apple has settled with Proview, the Shenzhen, China-based company it purchased the iPad trademark from back in 2009 for a mere $55,000 through a shell company. Although Proview was hoping for a $400 million payout to settle the trademark spat, Apple wound up paying $60 million.

"The iPad dispute resolution is ended," the Guangdong High People's Court said in a statement. "Apple Inc. has transferred $60 million to the account of the Guangdong High Court as requested in the mediation letter."

Back in December, the Chinese court ruled that Proview did indeed still own the lucrative trademark to the iPad name in China, which has quickly become Apple's second-largest market after the United States. An Apple subsidiary purchased the Chinese trademark from a Taiwan-based affiliate of the failed consumer electronics company, but the court ultimately ruled Proview was not bound by that sale.

According to Proview attorney Xie Xianghui, the company was holding out hope for a $400 million payday in order to pay debts and avoid bankruptcy, but "felt pressure to settle" for less. Ironically, the company "might still be declared bankrupt in a separate legal proceeding despite the infusion of settlement money."

Follow this article’s author, J.R. Bookwalter on Twitter

 

Tags: NewsApple Inc.bags o' moneybankruptcyChinaChinesecourtsiPadiPadProviewsettlementsShenzhentrademark Here's What You'll Get:The latest Apple news, reviews and how-tosThe hottest articles from MacLife.comYour recommended daily dose of awesome Also, send me e-mail announcements and special offers from Mac

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