Feeds

Time sues IBM for £3m

Handy if you're in refinancing talks with your bank

  • alert
  • submit to reddit

Security for virtualized datacentres

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'

Secure remote control for conventional and virtual desktops

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
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.