Apex Tells A Different Story On Arrested Chairman
from the negotiating-tactics... dept
Last week, we noted (with surprise) the story that Apex Digital's chairman had been arrested in China for failing to pay millions of dollars to certain vendors. Well, now, Apex has responded to the claims, suggesting that this is all part of their vendors' attempt to change the terms of their agreements, and, in fact, that they've forced the imprisoned chairman to sign certain documents unfavorable to the company. As for the supposedly missing money, Apex says they've sent the checks regularly, but the company in question, Sichuan Changhong Electric, has never presented them to Apex's bank to cash.