Threatening coercive detention: Bach Langheid client AGCS assists Middelhoff 

The managers‘ liability insurer AGCS (Allianz Global Corporate & Specialty) saves the former Arcandor boss Thomas Middelhoff in all likelihood threatening coercive detention. It became very tight for Middelhoff after a bailiff had applied for an arrest warrant on behalf of Arcandor’s insolvency administrator Hans-Gerd Jauch. By this, the former manager should be forced to disclose his financial situation.

Jauch claims 3.4 million euros from Middelhoff. Last autumn the Regional Court in Essen had sentenced the manager to the payment of this sum.

To date, Middelhoff has not fulfilled payment requests by the insolvency administrator. The civil proceedings were, above all, about the bonus payments to Middelhoff during his time with Arcandor as well as about flight costs, which, according to the court’s opinion, had been unlawful. In this matter the defendant banks upon Winfried Holtermüller, partner with Schelling & Partner in Stuttgart, and Jasper Hagenberg, Berlin partner with Buse Heberer Fromm. The judgement, however, has not yet become final. Currently, the Higher Regional Court in Hamm deals with the appeal of this case.

Jauch, however, went on the offensive, in order to ensure that he does not come away empty-handed after a possible final judgment. On Friday, Middelhoff’s D&O liability, Allianz subsidiary AGCS, and Jauch agreed at least in principle. Allianz’s subsidiary stated via e-mail that it wanted to fulfil the insolvency administrator’s security interest and guaranteed for the money, should Middelhoff be finally sentenced. Jauch, in return, is going to withdraw his enforcement orders under this condition and is not going to make use of an arrest warrant, when this is officially issued.

The lawyer of the insurance, Bastian Finkel, Cologne partner with BLD Bach Langheid Dallmayr, confirmed this general agreement, as well as Jauch upon JUVE’s inquiry. According to Jauch, he was still waiting for the declaration sent by mail. It is not known whether or not an arrest warrant had already been issued.

Other front lines in the proceedings

Jauch’s claims are not the only claims that amount up to millions with which Middelhoff, who meanwhile lives in Saint-Tropez, France, is confronted. The management consultant Roland Berger is claiming 6.8 million euros, which Middelhoff shall owe his former business partner. According to Berger, he had advanced this money in 2008 in the course of a business of the joint investment company BLM. As a matter incidental to these proceedings Middelhoff had to endure an attachment of his purse. The attachment was without success, because the former top manager did not carry larger sums of money. (René Bender)

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