According to press reports, Wirecard seems to have lent a total of 870 million euros to business partners in Asia in the last few months before the insolvency.
Such payments can probably still be contested by the insolvency administrator, even under German insolvency law. However, it seems doubtful whether these amounts can ever be recovered. It will most likely only be possible to establish the jurisdiction of German courts if the loans were granted with fraudulent intent. And even if there was a positive ruling from a German court, this ruling would still have to be enforced abroad.
Therefore, it will probably remain the case that – also – this money is “lost” for the creditors.
