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Jaffé: No deadline for Qimonda negotiations

Posted: 02 Jun 2009     Print Version  Bookmark and Share

Keywords:DRAM maker  insolvency  creditors 

According to Qimonda's insolvency administrator, there is no such thing as a final deadline for the negotiations. The search for an investor continues.

There is a widespread misconception in the media that on May 31, the insolvency administrator's efforts to find an investor for Qimonda "as a whole or in parts" will be terminated, according to a spokesperson of the administrator.

Insolvency administrator Michael Jaffé had mentioned this date in the context that he tried to obtain a clear picture regarding the interest of potential investors, but "the search for an investor continues," he pointed out.

The spokesperson admitted that currently there is no investment offer on the table. However, the committee of creditors has decided to continue the search, since the creditors would redeem far less if the insolvent DRAM maker would get on the block and be sold piece-by-piece.

In the Qimonda case, the committee of creditors comprises eleven members, mostly representatives of banks and credit insurers as well as of the workers.

The spokesperson admitted that the search for an investor is "rather difficult" and the perspective is uncertain. Nevertheless, he pointed out that Chinese company Inspur which end of last week had revoked intentions to take over Qimonda has affirmed the intention to "maintain contacts" during the past week.

-Christoph Hammerschmidt
EE Times Europe

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