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Electronics Production | July 04, 2008

BenQ's insolvency administrator to file lawsuit against Siemens?

The insolvency administrator for BenQ, Martin Prager, is said to prepare a lawsuit against Siemens, reports German newspaper 'Die Welt' without naming its sources.
According to the newspaper, the insolvency administrator will present ihis findings to the creditors' committee next week. "We do neither want to confirm nor deny such rumours," said a spokeswoman for the insolvency administrator to the newspaper. However, Siemens declined to make a comment.

Apparently, the insolvency administrator 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.

The Taiwanese group BenQ - today Qisda - had taken over the Siemens mobile phone division in 2005. BenQ, however, could not hold the division after just one year. More than 3000 employees in Germany alone lost their jobs. In addition, many suppliers - such as Infineon or Balda - were affected by the insolvency.

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