A California judge signed a whopping $2.8 billion judgment last week, ending the case against entrepreneur Jianping "Tony" Qu, after hitting him with terminating sanctions last month. Judge Jack Komar's decision is a major victory for New World TMT, a Hong Kong investment company that sued Qu's company, Prediwave Corp., two years ago, claiming that Prediwave video equipment it purchased didn't work as promised. But collecting the award could be a challenge because Qu may have fled the country.
January 02, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A Santa Clara County judge signed an astronomical $2.8 billion judgment Dec. 26, ending the case against a Bay Area entrepreneur who was punished with terminating sanctions last month.
Superior Court Judge Jack Komar’s decision signals a major victory for New World TMT, a Hong Kong investment company that filed suit two years ago claiming that video equipment it purchased from a U.S. tech company didn’t work as promised.
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