Bankrupt BenQ Mobile hits parent BenQ with third lawsuit
As if there wasn't enough scandal surrounding the bankruptcy of BenQ Mobile, the dead handset company has just filed its third lawsuit since July against former parent company BenQ. This time BenQ Mobile's insolvency administrator Martin Prager wants €26 million Euro ($36 million US) to pay executive bonuses that BenQ the parent approved, but BenQ Mobile had to pay after BenQ pulled the investment plug. In July Prager filed two lawsuits that amounted to €80 million ($110 million US) for account payables made by BenQ Mobile to BenQ in 2006. BenQ's considering counterclaims against those July suits.
Filed under: Cellphones
Reader Comments (Page 1 of 1)
strider_mt2k @ Aug 10th 2007 11:44AM
Not only that, but it's been turned into a wacky new TV comedy series!
If you like "The Office, you'll LOVE "Suits"!
Be sure to check out "Suits" coming this fall to NBC!
Max-a-Million @ Aug 10th 2007 11:57AM
Why the FU*K would any of these execs get bonuses since they ran the company into bankruptcy????
Almost like the Kevin Rollins-Dell payoff...run on of the best companies in America into the ground...and pick-up $48.6m on your way out...
Mike @ Aug 10th 2007 12:01PM
... "€26 million Euro ($36 million US) to pay executive bonuses" ...
Ummm, the company tanked. The executives shouldn't get a penny. What about paying the employees that are now out of a job?
belial20xx @ Aug 10th 2007 2:39PM
wow you gotta be kidding me ..did they ever think they closed the door on the mobile division because they were gonna use 36 mill of 110 mill to give to execs as a bonus..it is real sad the way the would is going to greed.. they did not perform they ruined a company they dont get paid simple as that ..I am sure the parent benq has the contractual upperhand with a clause regarding performance
Martin @ Aug 12th 2007 3:51PM
No, no, the article has it completely wrong.
BenQ Mobile already paid these bonuses. Martin Prager says BenQ Mobile should not have paid it, as BenQ made the promise, not the Mobile company. So he demands the money from BenQ.
He even wants to reclaim the money from the executives, if BenQ does not pay.