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Wirecard insolvency administrator: over 100 prospective buyers

The insolvent Dax group Wirecard could soon be smashed: According to the insolvency administrator, there are more than 100 interested parties for parts of the payment provider involved in a balance sheet scandal.

The insolvency administrator sees progress in the recovery of parts of the group in the scandal surrounding the payment service provider Wirecard. More than 100 prospective buyers have already registered for parts of the global company, insolvency administrator Michael Jaffe said on Tuesday after a meeting of the creditors’ committee.

He would like to give interested parties an insight into the business books shortly. In the meantime, a large part of the customers apparently want to stay on track.

“In discussions with customers, they mostly took a constructive stance and expressed great interest in a swift investor solution from insolvency,” said the insolvency administrator. The process of selling the North American business is the most advanced. The investment bank Moelis & Company was mandated for this.

Wirecard could also have made losses in its core business

After a press report by the “Financial Times”, it is questionable how valuable Wirecard’s business units are. In mid-June Wirecard had to admit that funds held in trust accounts for the so-called third-party business in the amount of 1.9 billion euros probably never existed and subsequently applied for bankruptcy.

According to the report in the “Financial Times”, Wirecard has also suffered losses in its core business for years, which apparently should be covered up with the alleged air bookings in Asia.

The prosecutor’s office is now investigating fraudulent balance sheets. Jaffe has already stated that he expects the Dax group to be broken up.

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