Feeds

BenQ administrator threatens to sue Siemens

Irregularities claimed

Beginner's guide to SSL certificates

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
Mighty Blighty broadbanders beg: Let us lay cable in BT's, er, ducts
Complain to Ofcom that telco has 'effective monopoly'
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
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
Ofcom tackles complaint over Premier League footie TV rights
Virgin Media: UK fans pay the most for the fewest matches
prev story

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.