The creditors of the former top manager Thomas Middelhoff should know in the coming weeks, if their demands are met. The district court Bielefeld has opened insolvency proceedings against the former Arcandor chief on Friday. This was announced by Middelhoff’s insolvency administrator Thorsten Fuest.
Fuest said, was his job now is to exploit the assets of Middelhoff and distribute the proceeds to creditors. He expects here an extremely costly investigative work, since there are a number of controversial asset dispositions and claims from the past that need to be legally assessed and, where appropriate, brought before the courts.Among other things, these are real estate assets, such as the residence Middelhoff’s in Bielefeld. Middelhoff and his wife had transferred the land four years ago at a family real estate company to “virtually all their remaining assets to the access of its creditors” to withdraw, inter alia, as stated in a writ of Bankhaus Sal. Oppenheim.
According to a list of his tax adviser Middelhoff was already the end of 2010 with EUR 121 million in debt, his wife with another 72 million, mostly at Sal. Oppenheim. The Bank has filed against the assets shift action. Moreover, there is the suspicion that Middelhoff could have moved around five million euros in the United States.
Middelhoff had applied for personal bankruptcy in late March. Around 50 creditors, including banks and investment companies, require the Manager a total of a high double-digit millions. In many cases, rises Middelhoff also counterclaims.
No comments:
Post a Comment