On Friday, the Chinese company that claims to hold the trademark on the “iPad” name, threatened to sue Apple in the U.S. for $2 billion dollars, reports the AFP. Proview Technology claims it owns the Chinese rights to the iPad name and the company’s lawyers are looking to prevent Apple from importing or exporting the popular tablet in China. “Right now we are selecting from three American law firms to sue Apple in the United States for $2 billion in compensation,” said the chairman of Hejun Vanguard Group, a company working with creditors to restructure Proview. Proview’s chief executive Yang Rongshan has repeatedly denied allegations that the company is extorting Apple in order to pay off its debt.”We own [the iPad trademark] in China,” Rongshan said. “If you were in my position… you would try to protect your rights.”¬†Apple has said that it previously licensed the iPad trademark and Proview is failing to honor its earlier agreement.