Menu
AST chases Chinese distributor to recover $US4 million

AST chases Chinese distributor to recover $US4 million

As it attempts to dig itself out from the trenches, ailing PC maker AST Research Far East is looking to recoup over $US4 million for hardware and equipment it sold last year to Hong Kong-based distributor Trend Network, according to court documents filed earlier this month.

Trend Network, which distributes AST computers in China, purchased $US4,521,298 worth of hardware from AST last year between August 29 and December 30, according to the court documents.

After deducting credits issued by AST in favour of Trend Networks from January 2 to May 1, 1998, AST is asking for payment of $US4,067,563, plus interest amounting to $US147,984, and an additional $US1560 per day until the time of judgement.

Also, AST Research Far East is suing Trend Network directors Richard Wong Wai Wo and Chan Fung Ling under the terms of a guarantee and indemnity dated December 20, 1996. "Wong and Chan guaranteed to pay all money which Trend Network may owe AST Research at any time to an unlimited extent," according to the court documents.

Trend Network's Chan declined to respond to questions, saying only that the company currently has issues before the court.


Follow Us

Join the newsletter!

Error: Please check your email address.
Show Comments