Tuesday, March 31, 2015

Ex-top managers Middelhoff is broke – Badische Zeitung

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01. April 2015

personal bankruptcy requested.

BIELEFELD (dpa). The former top executive Thomas Middelhoff has applied for personal bankruptcy at the district court of Bielefeld. The temporary insolvency lawyer Thorsten Fuest had been ordered from Bielefeld, told a court spokeswoman said Tuesday.

Middelhoff’s lawyer Hartmut Fromm justified the move so that his client was not currently in a position “to meet a due income tax owed by the Treasury “. An appeal against this claim was pending, but was rejected a stay of execution. In addition, a large portion of the assets of the manager of his former bank will blocked. Background are controversial counter-claims of the bank.

The former head of the now bankrupt previous Karstadt parent company Arcandor was sentenced on November 14 from Essen district court for embezzlement and tax evasion to three years in prison. The Federal Court will decide in a few months about his revision. Attempts by Middelhoff’s lawyers to get the 61-year-old free again failed. The reason: The judges recognized a flight risk. The difficult financial situation of the manager had already overshadowed the trial of Middelhoff. Middelhoff himself had conceded in the summer receivables of 83.4 million euros, but spoken by 200 million euros counterclaims.

Author: AP

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