Noerr has assisted Qimonda insolvency administrator Dr. Michael Jaffé with an agreement on a partial settlement with Infineon Technologies AG amounting to Euro 260 million
The law firm Noerr has assisted the insolvency administrator over the assets of the former memory chip manufacturer Qimonda AG, Dr. Michael Jaffé, with the conclusion of an out-of-court settlement with Infineon Technologies AG.
With this partial settlement all disputes – with the exception of the pending proceedings on the grounds of economic re-establishment and so-called liability for the impairment of capital – have been settled. Hence, Infineon will pay a total settlement amount of EUR 135 million and acquire all patents of Qimonda AG for a further EUR 125 million. A Noerr team led by Munich based corporate partner Dr. Florian Becker supported the insolvency administrator in the negotiations.
The closing of the partial settlement agreement and the acquisition of the patent business is subject to the fulfilment of various legal conditions, and is expected to take place in the following calendar quarter. The creditors’ assembly of Qimonda AG has already approved the agreement with Infineon.
Advisor insolvency administrator Dr. Michael Jaffé:
Noerr LLP: Dr. Florian Becker (team leader, Corporate, Munich), Prof. Dr. Christian Pleister (Corporate, Frankfurt/Berlin), Dr. Alexander Ritvay (Corporate, Berlin), Dr. Ingo Theusinger (Corporate, Dusseldorf), Prof. Dr. Sebastian Wündisch (IP, Dresden)
Associates: Ariane Neubauer (Corporate, Berlin), Isabel Schneider (Corporate, London), Dr. Robert Loef, Martin Nigl (both Corporate, Munich)
Noerr AG: Santiago Ruiz de Vargas, Thomas Zollner (both Financial Advisory, Munich)