Qimonda, once a prominent memory chip manufacturer, filed for insolvency in 2009. Insolvency administrator Michael Jaffé has successfully secured 1.2 billion euros for its 2,100 creditors, of which 550 million euros have already been distributed. Recently, creditors are set to receive an additional advance payment of 420 million euros, with further payments in the triple-digit million range anticipated.
Jaffé, who also administers the Wirecard insolvency, has navigated lengthy legal disputes with Infineon, Qimonda's former parent company, which agreed to pay 800 million euros in a settlement. Qimonda's insolvency process is nearing completion, and once outstanding legal matters are resolved, additional payments will be directed to the subsidiary creditors.
This marks a significant step in addressing the financial aftermath of Qimonda's collapse.
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