Feeds

BenQ administrator threatens to sue Siemens

Irregularities claimed

Secure remote control for conventional and virtual desktops

Was BenQ Mobile insolvent in May 2006, long before it filed for liquidation? The company's insolvency administrator in Germany, Martin Prager, is preparing a multi-million euro lawsuit against Siemens in the belief that it was.

German paper Die Welt broke the news on Saturday, but initially a spokeswoman for the insolvency administrator declined to comment. Today Prager confirmed the story to Sueddeutsche Zeitung after talks with Siemens ended without agreement.

Prager claims to have found irregularities in the transfer of operations of Siemens' mobile phone division to BenQ, and that the assets of the division might have been wrongly assessed.

Prager had already sued BenQ for compensation to the tune of €100m, but this amount could easily climb to €500m.

Taiwanese BenQ took over Siemens' ailing mobile phone business in 2005. One year later, the unit filed for insolvency as the company failed to turn the tide against fierce competition from Nokia and Motorola. About 3,000 workers lost their jobs.

Computers, office furniture, building and other material assets were being sold off by a Hamburg auction house to be set against liabilities of $1.16bn.

Prager's actions are the latest batch of bad news for Siemens, which tomorrow will announce a four per cent headcount cut among its 435,000 employees, including 6,400 job losses in Germany alone.

Its joint venture with Fujitsu isn't looking too healthy either. Fujitsu Siemens today said it had a very difficult Q2, with computer and notebooks sales sliding dramatically. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Virgin Media struck dumb by NATIONWIDE packet loss balls-up
Turning it off and on again fixes glitch 12 HOURS LATER
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
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.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
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.
Choosing a cloud hosting partner with confidence
Download Choosing a Cloud Hosting Provider with Confidence to learn more about cloud computing - the new opportunities and new security challenges.