In the legal dispute between the chip manufacturer Infineon and the Qimonda insolvency administrator, the court-appointed expert has presented his report.
Accordingly, the value of the storage business brought into Qimonda by Infineon is a good minus one billion euros, as Infineon announced on Monday evening. The value of the contributions in kind, however, is stated in the announcement as plus 600 million euros. In 2006, Infineon spun off the storage business and brought it into Qimonda through two contributions in kind. At the beginning of 2009, Qimonda filed for bankruptcy.
According to the announcement, the insolvency administrator claims, among other things, that the storage business spun off from Infineon was not valuable. He is therefore suing for reimbursement of the difference in the issue price of the shares issued to Infineon as part of the spin-off from Qimonda. The submission of the report represents an interim step in the pending legal dispute. The amount of Infineon’s possible liability depends on other aspects, it said.
The report also does not include the determination of the liquidation values, which, in Infineon’s opinion, at least reached the values required for the contributions in kind and thus exclude the differential liability claimed by the insolvency administrator. The company will examine the report in detail. As of September 30, 2023, provisions totaling 212 million euros were recognized in connection with Qimonda. It is currently not foreseeable when a first-instance court decision will be made.
In Tradegate trading, Infineon’s share price initially did not react to the news.
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NEUBIBERG (dpa-AFX)
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