News | October 02, 2013

Sapheneia Files for Bankruptcy

Advanced visualization company filing comes after losing patent case to competitor

October 2, 2013 — Sapheneia Commercial Products AB filed for bankruptcy Aug. 28, 2013. Shortly before the company went into bankruptcy, it changed its company name to “Contact Imaging Sweden AB.”

In July 2013, the Stockholm District Court ruled that ContextVision is the real owner of a key patent application filed by Sapheneia in September 2006. The court also ruled that Sapheneia should pay the legal costs of ContextVision amounting to TSEK 2,940. The amount has not been paid, and instead, Sapheneia filed for bankruptcy. The administration of the company in bankruptcy has been taken over by a receiver.  

Sapheneia appealed the court and was given until Sept. 6 to specify details of the appeal. The receiver has asked for an extension of this time limit, so the case is not officially closed.

In 2006, five employees left ContextVision and set up a new company, Sapheneia Commercial Products AB (SCP), together with two American citizens who had been engaged as consultants by ContextVision. Immediately after having left ContextVision, SCP started its business that directly competes with ContextVision. In September 2006, SCP filed a patent application, which identified two of ContextVision’s former employees as inventors. In 2008 ContextVision initiated legal proceedings against SCP at the Stockholm District Court requesting a declaratory judgment to the effect that ContextVision is the owner of the patent application.

The legal costs of 2,940 TSEK have been expensed in ContextVisions’ current accounts, thus a default in payment will not affect the result for future periods.

For more information: www.contextvision.com

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