Feeds

Time sues IBM for £3m

Handy if you're in refinancing talks with your bank

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Time Computers is suing IBM for £3 million in the New York State Supreme Court.

Which could be handy as it is supposed to be in urgent refinancing talks with its bankers, HSBC.

Time is alleging that IBM committed fraud and sold it memory chips IBM knew to be defective back in 1994. The summons was served on IBM in the US last week.

According to the Observer, IBM UK has also been hit with a separate £3m suit in respect of the same components by another UK computer assembler, Adex International.

In July, Time settled a £13 million compensation claim with IBM UK over the same issue.

Time is currently suffering from falling PC prices and lower than expected Xmas demand for PCs. This, combined with the company's own headlong expansion, have forced it to change its forecasts and business plans. And seek the urgent refinancing talks. ®

Related Link

The Observer story

Related Stories

IBM pays off Time
High time for Time Computers
Time Computers in 'urgent refinancing talks'

Internet Security Threat Report 2014

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.