Printer Friendly

BICOASTAL CORPORATION STARTS SUIT AGAINST THE SINGER COMPANY N.V. RELATING TO THE SINGER TRADEMARKS

 TAMPA, Fla., April 22 /PRNewswire/ -- Bicoastal Corporation (OTC Pink Sheets: SIGPQ) announced that it has initiated a lawsuit against The Singer Company N.V. (Singer N.V.) (NYSE: SEW) in the U.S. District Court for the Middle District of Florida, Tampa Division.
 The lawsuit relates to the May 26, 1989, Royalty Agreement whereby Bicoastal assigned the SINGER Trademarks to Semi-Tech Microelectronics (Far East) Limited (n/k/a Shinwa Company Limited) (Semi-Tech) in exchange for Semi-Tech's agreement to pay, in perpetuity, royalties on its use of those Trademarks. For the last four years, Semi-Tech has refused to pay those royalties as they came due.
 In December of 1992, Bicoastal notified Singer N.V. of Semi-Tech's failure to make court-ordered royalty payments. The notification stated that Singer N.V. may itself have liability to Bicoastal for the payments and requested Singer N.V. to make the overdue payments. Bicoastal received no response to its notification.
 In the suit against Singer N.V., Bicoastal claims that Singer N.V. is liable for Semi-Tech's obligations under the Royalty Agreement because Singer N.V. is an Assignee and Transferee under the Royalty Agreement. The suit also claims that Singer N.V. was a party to fraudulent conveyances, conspiracy and tortious interference with Bicoastal's contract. The suit seeks damages in excess of US$100 million. It also seeks injunctive and declaratory relief and seeks to void various contracts between the Semi-Tech Group and Singer N.V., including those which involved the purported transfer of title to the SINGER Trademarks to Singer N.V.
 Additional defendants in the lawsuit include Semi-Tech (Global) Company, Limited, Shinwa Company Limited, Singer Credit Corporation, The Singer Company Limited, International Semi-Tech Microelectronics, James H. Ting, Chuck C.H. Tam, and Dr. Frank E. Holmes.
 For further information, please contact Janet Hoer at 813-264-7100.
 -0- 4/22/93
 /CONTACT: Janet Hoer of Bicoastal Corporation, 813-264-7100/
 (SIGP SEW)


CO: Bicoastal Corporation; The Singer Company N.V. ST: Florida IN: SU:

MP-CC -- FL007 -- 9364 04/22/93 11:19 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 22, 1993
Words:336
Previous Article:PUBLIC SERVICE CO. OF COLORADO ANNOUNCES FIRST QUARTER RESULTS
Next Article:HONEYWELL/RACAL UNVEILS REVOLUTIONARY SATCOM TECHNOLOGY FOR BUSINESS AIRCRAFT MARKET
Topics:


Related Articles
AMEX BEGINS TRADING OPTIONS ON SINGER STOCK
BICOASTAL WINS $42.9 MILLION ROYALTY AWARD AGAINST SEMI-TECH, PARENT OF THE SINGER COMPANY N.V., OVER USE OF SINGER TRADEMARK
BICOASTAL REQUESTS SINGER N.V. TO CURE SEMI-TECH'S DEFAULT
BICOASTAL CORPORATION SEEKS OVER $30 MILLION ADDITIONAL ROYALTIES FROM SEMI-TECH
SEMI-TECH DELIVERS US$60 MILLION LETTER OF CREDIT TO BICOASTAL TO SECURE ROYALTY PAYMENTS
BICOASTAL CORPORATION STARTS HONG KONG SUIT AGAINST SEMI-TECH (GLOBAL) COMPANY LIMITED, JAMES H. TING, AND OTHERS RELATING TO HONG KONG FRAUD
SEMI-TECH GROUP SETTLES ROYALTY DISPUTE WITH BICOASTAL CORPORATION
BICOASTAL CORPORATION ANNOUNCES COURT RULING REGARDING ROYALTY SETTLEMENT AND ARBITRATORS VOTE REGARDING GOVERNMENT OF ISRAEL
Steven Guilford Makes Statement on Adam Singer And IPC - The Hospitalist Company Lose Appeal.
Steven Guilford, President of MingleWood Data Systems, LLC, Comments on Prominent Law Firm Engaged to Prosecute Claims Against Adam Singer and IPC -...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters