NEUBIBERG (dpa-AFX) - German semiconductor maker Infineon Technologies AG (IFNNY) and the insolvency administrator of Qimonda AG have reached a settlement, concluding the legal dispute that has been ongoing at Munich Regional Court I since late 2010. The insolvency administrator had originally claimed approximately 3.4 billion euros plus interest.
As per the terms of the settlement, Infineon will pay 753.5 million euros. The amount is based on a nominal settlement figure of 800 million euros, adjusted for set-offs from prior agreements with the insolvency administrator.
The settlement has been approved by Infineon's Supervisory Board, while the creditors' committee of Qimonda AG and Infineon's Management Board had previously given their consent. The parties have agreed to have the settlement officially sanctioned by the court.
The settlement resolves all legal disputes and claims between the insolvency administrator and Infineon.
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