Shenzhen Proview to Expand in the LED Lighting Industry
Although still deeply in debt, Shenzhen Proview is planning to expand into LED lighting. Proview’s founder Yang Rongshan said the company have advantages and technological strength in the energy saving industries thus creating interest with possible investors.
Even with Proview winning the trademark case with Apple, the settlement that then got from the case is still frozen by a local court. With this Yang feels sorry that the company’s debtors cannot be paid. Yang also said that they are trying their best in settling all their accounts with suppliers and debtors. Currently the company owes US$ 400 million from eight banks.
Last week alone they were rocked with another lawsuit from two law firms that helped them with their case with Apple for overdue legal fees amounting to 45 million yuan. Yang acknowledged signing contracts with the law firms during the case, and none of the four firms who handled Proview’s case have received payment.