The administrator of Arcandor AG (in liquidation) operates in the interest of the creditors. Therefore, his primary task is to satisfy the existing liabilities to creditors at the best. A restructuring of the Arcandor Group as a whole can be excluded by now. Instead, both the department store segment and the mail order segment will be restructured and sold through individual insolvency proceedings. All of the assets of common debtor Arcandor AG (in liquidation) will be realised by the administrator according to the rules of insolvency law. The proceeds of this realisation are to be used and will be used to satisfy the outstanding receivables of the creditors of Arcandor AG (in liquidation).
These procedures are of no significance to shareholders. For shareholders being co-proprietors they are no creditors. The measures which are now being executed or announced by the insolvency administration solely serve the interests of the creditors. According to the current status of the insolvency proceedings shareholders will not benefit from current or future proceeds of sale. These proceeds of sale will not impact the net asset value of the Arcandor share. The shareholders do not participate at the redistribution procedure.
Losses from share transactions cannot be lodged as a claim to the insolvency list. Only creditors can declare their demands to the insolvency list. Shareholders’ enquiries concerning the status of the proceedings unfortunately cannot not be answered in detail by the administrator due to the fact that insolvency proceedings are not public.

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