Tuesday, March 31, 2015

For insolvency – tax claim brings Middelhoff into trouble – Süddeutsche.de

  • On Tuesday noon Middelhoff put through its lawyers, the District Court of Bielefeld a request to open insolvency proceedings over his private assets.
  • Until his arrest in November denied Middelhoff energetic, to be broke.
  • The request from Middelhoff came to the tax office Bielefeld foreign city before. It had also filed for bankruptcy against Middelhoff, the court had not yet decided about that.

By Uwe Ritzer

It would have been a spectacular showdown, on Holy Thursday at 11.30 clock in the hall 18 of the District Court Bielefeld. Thomas Middelhoff eye to eye with Roland Berger. The former top manager, who is in prison for four and a half months, and his creditors Berger, the doyen of business consultants in this country. Middelhoff called Berger once called his “father’s former friend”. Meanwhile, there’s nothing left of sympathy. Berger and he quarrel bitterly over millions of euros they charge each other mutually. Whether it will ever come to this process, however, has become questionable.

The process with the reference number 1 O 210/14 is indefinitely on hold, because things have changed. On Tuesday afternoon Middelhoff put through its lawyers, the District Court of Bielefeld a request to open insolvency proceedings over his private assets. As a provisional liquidator, the Court of a lawyer Thorsten Fuest. He wants to be first of all make “a picture of the complex financial circumstances” Middelhoff and then clarify “in dialogue with him and his creditors” of the procedure.

With his application Middelhoff came to the tax office Bielefeld foreign city before. It had also filed for bankruptcy against Middelhoff over which the court had not yet decided. Reason, significant tax liabilities of the 61-year-old who once called CEO of media giant Bertelsmann and the retail group Karstadt-Quelle (later Arcandor) was one of the most powerful and best paid managers in Germany. How much of the exchequer required of him, tax authorities and judicial say not -. Tax secrecy

Just hours later, he was arrested Thomas Middelhoff on November 14, 2014 District Court of Essen.

(Photo: Frank Augstein / AP )

creditors want 90 million euro

His client was “currently not in a position to meet a due income tax owed by the Treasury,” said Middelhoff’s lawyer Hartmut Fromm. About a lawsuit against this demand the competent tax court has not yet decided. Well but it rejected a request Middelhoff to stay the driving of the tax liability. To ensure that the state belongs to Middelhoff’s creditors. The other creditors, as his former asset manager Josef Esch, Roland Berger, Bank Sal. Oppenheim, the Berlin housing association Gewobag or the Arcandor insolvency, require about 90 million euros.

When applying for a Privatinsolvenz- process recovers the crash of Middelhoff again to ride. No German top managers have experienced similar. In July his creditors Berger forced him to submit a sworn information assets, commonly known as: bankruptcy. Then Middelhoff fled through a spectacular jump out of the window on the first floor in front of the photographers that lurked at the court entrance. A few weeks later distrained in Essen court bailiff its an expensive wristwatch, which was subsequently foreclosed. Since November 14, 2014 Middelhoff is imprisoned for a flight risk in custody in the prison food after him, the district court had sentenced to three years in prison for embezzlement and tax evasion. It was about flights in private jets and other issues that are deemed the court to be private, but Middelhoff Arcandor had them pay

The decision is not yet final. Middelhoff’s lawyers have filed an appeal to the Federal Court. Their attempts to get Middelhoff free, all of them have failed so far. A few days ago, the Oberlandesgericht Hamm refused a request for a flight risk, although family and friends EUR 900 000 deposit offered.

Unclear financial situation

But have as much money Thomas Middelhoff and his family at all? How much you ever heard of the swanky villa high above Saint-Tropez and the equally spacious property with riding and tennis courts in Bielefeld? From the luxury cars and other status symbols?

News Encyclopedia “personal bankruptcy”

Thomas Middelhoff, the former head of the department store company Arcandor has with the district court Bielefeld an application for personal bankruptcy provided. This option is available for private individuals since 1999. The goal of the Act to to enable debtors a line under their past – after six years they can be freed from their debts, even if they have not fully repaid. But they have to overcome hurdles: First, an attempt is made to obtain an out of court settlement with the creditors with the help of a lawyer or a counseling center. It is used a trustee, who tried to exploit the property of the debtor, such as a car. Eventual content is seized up on the breadline. The failure to settle out of court, the bankruptcy application may be made. The court then tried to implement a plan to reduce debt with creditors. Votes more than half of the plan into effect. The debtor is protected during the process before execution by creditors. If he behaves well for six years, the remaining debt to him is adopted. Since July 2014, this means that after five years if the debtor bears the costs – and even after three years if he pays 35 percent of its debt. Each year around 100 000 German citizens to apply for personal bankruptcy. Harald Freiberger

Until his arrest in November Middelhoff strenuously denied being broke. He had enough money, but is just not liquid. Blame, it said on Tuesday his lawyer Fromm, was Sal. Oppenheim, which had been frozen in 2009 a total of almost 30 million euros mainly on fixed deposits of Thomas Middelhoff and his wife Cornelia. The money home and the couple took part in the so-called Oppenheim-Esch Fund. The Middelhoff feel pulled over the table and demand the rescission. The bank refuses and demands that the Middelhoff’s loans continued use, they have added to their fund holdings. The dispute is before the Landgericht Köln pending, where the presiding judge Middelhoff’s action but “quite unfavorable prospects things stand now,” admitted.

The villa high above Saint-Tropez, main official residence of Middelburg Hoffs, is now for sale. Your price will be between 30 and 35 million euros, which is unclear if and how much Middelhoff would collect the event of any sale. Long have here creditors proverbial hand on it.

After SZ-information and the Bielefeld home seems to be not secured. Apparently it is owned by a company with family members. Creditors can just check the ownership and are determined to realize their claims there. Roland Berger also do not want to let loose. His lawyer Claus Thiery said they welcome the fact that “the financial situation of Mr Middelhoff will be fully investigated by the insolvency administrator”.


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