Wintek Wins Reprieve from Court

Taiwan’s Taichung District Court has approved Wintek’s restructuring plan. Last October, the troubled touch panel maker filed its restructuring panel and an emergency injunction seeking court protection of its assets. The court appointed three trustees to oversee the reorganisation plan.

As of the third quarter of last year, Wintek had accumulated liabilities of NT$53.5 billion ($1.7 billion), after lower-than-expected demand for touch panels over the past few years and heavy investments to upgrade its touch panel technology and expand its capacity caused the company heavy losses.