Money from the insolvency administrator
Qimonda creditors receive a further payment of 420 million
The memory chip manufacturer Qimonda was short-lived: spun off from Infineon in 2006 and bankrupt in 2009. The insolvency process takes much longer. Now the end is in sight.
The creditors of the memory chip manufacturer Qimonda, which went under in 2009, will receive a large advance payment at the turn of the year: insolvency administrator Michael Jaffé announced advance payments totaling 420 million euros to the 2,100 creditors of the holding company Qimonda AG, which are to be transferred “in the next few days”. Further substantial payments in the three-digit million range are to follow upon completion of the insolvency proceedings.
Qimonda was a subsidiary of the semiconductor manufacturer Infineon; after the bankruptcy, Jaffé waged years of legal disputes with the former parent company. In August, Infineon finally agreed to pay 800 million euros in a settlement. According to Jaffé, he has secured a total of 1.2 billion for creditors, of which 550 million have been paid out so far.
“After resolving the last outstanding legal issues, it is now a matter of preparing the conclusion of this procedure and the procedures of the subsidiaries,” said Jaffé. “The creditors will then be able to receive further payments in the three-digit million range.” The lawyer has also been the insolvency administrator of the scandalous company Wirecard since 2020.
Qimonda AG, for its part, had subsidiaries, including a factory in Dresden. These subsidiaries also filed for bankruptcy in 2009. On the one hand, these subsidiaries have their own creditors, but on the other hand, they are now among the creditors of the Qimonda holding company and receive part of the payments from the insolvency administrator. These funds should then be passed on to the subsidiary creditors in the coming year.
dpa
Source: Stern
