“A major creditor of Proview Electronics, which is challenging Apple Inc.’s use of the iPad trademark, has moved to have the ailing computer monitor maker liquidated, reports said Monday,” Elaine Kurtenbach reports for The Associated press.

“Taiwan-based Fubon Insurance is seeking $8.68 million in debts and has filed an application to have Proview declared bankrupt, the reports by the Xinhua News Agency and other mainland media said,” Kurtenbach reports. “Proview lawyer Ma Dongxiao said the company believes its financial problems won’t affect the handling of a court case in which Apple is appealing a ruling against its claim to the iPad trademark in China.”

Kurtenbach reports, “Proview’s mainstream computer monitor business fell on hard times in 2008 and the company is liquidating assets as it goes through a restructuring. Its main product line is now LED street lights. It has urged Apple to settle out of court, presumably for far more than the 2009 deal, in exchange for ending the trademark dispute. Apple has evinced no interest in such a settlement, saying it believes it owns the iPad trademark.”

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MacDailyNews Take: Money is not the only thing of which the extortionists are bankrupt.