UPDATE 1-Infineon faces 1.7 bln eur in claims for Qimonda

* Qimonda administrator quantifies claims against Infineon

* Seeks payment of at least 1.71 bln eur plus interest

* Infineon reiterates claims are unjustified

* Infineon says will continue to defend itself against claims (Adds company comment, details, background)

FRANKFURT, Feb 14 (Reuters) - The administrator of insolvent German chipmaker Qimonda is requesting 1.7 billion euros ($2.23 billion) from its former parent Infineon , claiming Qimonda paid Infineon for a business in 2006 that was negative in value.

In 2006, Qimonda gave new shares to Infineon in return for Infineon's memory business, a deal that is now being probed in an ongoing lawsuit brought by the administrator, Infineon said on Tuesday.

Infineon cited the insolvency administrator as saying the memory business "was not only not equivalent to the price of the new shares issued in return, namely 600 million euros, but was actually negative".

It is the first time that Qimonda's insolvency administrator specifies parts of the damages he is claiming from Infineon. He has also lodged further unspecified claims as part of a so-called "declaratory judgement" the administrator is seeking, Infineon said.

Infineon considers the claims "unjustified" and will continue to defend itself against them, it said. It does not have to raise its provisions following the request, Infineon added.

Qimonda spun off Qimonda in 2006 and the company went insolvent in 2009 after Infineon refused to invest more money in the company and efforts of state aid failed. ($1 = 0.7616 euros) (By Peter Dinkloh and Jens Hack)