June 15, 2012 / 3:25 PM / 5 years ago

Infineon says Qimonda administrator hikes demands

1 Min Read

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.

$1 = 0.7939 euros Reporting by Maria Sheahan

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