Cambex Corp, Waltham, Massachusetts has moved quickly to settle the lawsuit brought against it by IBM and IBM Credit Corp on what at first blush look to be fairly bizarre terms. Cambex has capitulated in agreeing not to sublease, sell or dispose of computers or parts owned by IBM Credit without complying with IBM Credit contract conditions, including the requirement for notifying IBM Credit and obtaining its written approval. But to clear up the situation where Cambex has replaced IBM memory with its own and the customer has to restore the machine to IBM in its original configuration with the original parts, Cambex is paying IBM $5.886m to replace 3,488Mb – list price $13.95m – of IBM Credit-owned memory previously sold or subleased by Cambex. This memory will be available for sublease by IBM Credit lessees for the benefit of Cambex. The suit is dismissed with prejudice, which means the settlement is the end of the matter. IBM Credit Corp will also not initiate defaults or pursue claims it might have against customers in identified Cambex transactions.
