The people winding up Qimonda, the bankrupt former DRAM subsidiary of Infineon, have asked Infineon for a payment of €1.7bn in respect of shares issued on Qimonda’s supposed value.
Qimonda was floated on the New York Stock Exchange in 2006 gaining a separate quote from Infineon, but Infineon retained a majority of Qimonda’s shares.
The bankruptcy administrators are claiming that the valuation put by Infineon on issues of shares implied a value for Qimonda that was much greater than the true value of the company.
Infineon says: “The auditor commissioned by Infineon concludes in its valuation that the value of the memory business is many times the amount for which the shares were issued.”
