Things aren't looking good for Optodisc. According to DigiTimes, two Two Taiwan-based banks have asked a local court to impose a provisional seizure of assets on Optodisc as well as the personal assets of the company chairman and president.
A local court has imposed a provisional seizure of assets on Optodisc Technology, a second-tier maker of optical discs in Taiwan, as well as on the personal assets owned by company chairman David Wang and president Jasper Chao, according to the company's filings with the Taiwan Stock Exchange (TSE) on July 21.
Two Taiwan-based banks, TC Bank and the Bank of Kaohsiung, asked for the provisional seizure to protect their creditor rights, according to the filings. According to the local court's decision, the provisional seizure covers a portion of Optodisc's factory buildings and manufacturing equipment as well as part of the personal assets of Wang and Chao, noted the filings.
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