Reuters: Bankruptcy News: Infineon says Qimonda administrator hikes demands

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Infineon says Qimonda administrator hikes demands Jun 15th 2012, 15:24 FRANKFURT, June 15 | Fri Jun 15, 2012 11:24am EDT FRANKFURT, June 15 (Reuters) - The administrator of insolvent German chipmaker Qimonda has almost doubled his demands for payment from former parent company Infineon Technologies to 3.35 billion euros ($4.22 billion). "The insolvency administrator continues to base a substantial part of his alleged payment claims on so-called liability for impairment of capital," Infineon said in a statement on Friday. Infineon had said in February the administrator was demanding 1.7 billion euros, claiming Qimonda paid Infineon for a business in 2006 that was negative in value. At the time, Infineon said it considered the claims "unjustified" and would continue to defend itself against them. It also said it did not have to raise its provisions.

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