- 积分
- 22
- 实力分
- 点
- 金钱数
- 两
- 技术分
- 分
- 贡献分
- 分
|
马上注册,结交更多好友,享用更多功能,让你轻松玩转社区。
您需要 登录 才可以下载或查看,没有帐号?注册会员
x
BenQ Mobile hits bottom and sees little hope of coming up
In September of 2006 BenQ Mobile, also known as BenQ-Siemens, filed for insolvency when the Taiwanese manufacturing company was unable to find investors. The insolvency proceeding was opened in Germany on Monday. Insolvency, when a company's liabilities exceed it's assets, typically leads to liquidation in Germany, even though the bankruptcy laws are very similar to U.S. Chapter 11 provisions.
According to statements made to Heise, the company was to be liquidated if an agreement was not made with investors by the end of 2006. However, with the hearings still in progress, the company has a little more time, although the outcome looks grim. If a single board member decides to liquidate in order to cover the company liabilities, the entire company will be liquidated. In the unlikely event that the proceedings favor restructuring instead of liquidation, the court will appoint new management to run the company. Even then, the court-appointed management can decide to liquidate what assets are left of the company.
BenQ Mobile was created through BenQ's buyout of Germany-based Siemens Mobile. BenQ was paid $97.5 million to take over the Siemens division in October 2005. This buyout was supposed to be BenQ's bridge into the mobile technologies market, but the company did not post a profitable quarter in the one year span under BenQ control.
In Germany, the law allows a company three months after bankruptcy has been filed before a formal insolvency hearing begins. According to CNET.com, if BenQ fails to find investors before their 3 month grace period, over 3,000 employees could lose their jobs.
As part of the Siemens acquisition, the BenQ conglomerate retained control over Siemens patents and intellectual property. In the event the company is liquidated, BenQ will retain much of this intellectual property. Given BenQ's near-unwillingness to compete after the 2005 acquisition, the insolvency hearings will also weigh the conglomerate’s long-term benefits for holding onto this IP.
More information on BenQ's proceedings will be released on Wednesday at the closing of the insolvency proceedings. |
|