Kirch creditors receive money

More than four years after the insolvency of the Kirch Group, creditors are set to receive their first payment in the coming months. "A first interim payment is in progress and should be made this year," insolvency administrator Michael Jaffe is quoted as saying by the German magazine "Spiegel". However, only a small part of the sum will be paid: Experts expect an insolvency ratio of around 10%. The original total claims amounted to around nine billion euros.