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Next Scandal Overshadows MIFA’s New Future

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SANGERHAUSEN, Germany – Former MIFA Managing Director Thomas Mayer claims 640,000 euro compensation in a letter to the Supervisory Board, in which he asks administrator Lucas Flöther to pay the contractual amount equal to two years’ salary.

Next Scandal Overshadows MIFA’s New Future
Former MIFA Managing Director Thomas Mayer claims two years’ salary for five days of work. – Photo MIFA

The letter from Thomas Mayer was published by the German magazine ‘Wirtschaftwoche’. It is still unclear whether the compensation is paid preferential or whether Mayer is, like other creditors, only entitled to a portion of the amount at the end of the insolvency proceedings.

District court verdict

MIFA’s new managing director was presented eleven days before the bankruptcy of Germany’s biggest bike maker and, according to his letter, has only worked five days. After that he was pushed aside following a district court verdict stating that administrator Lucas Flöther would be the decision maker at MIFA, as Bike Europe reported. Mayer says he was personally “inflicted great harm” because he ended a contract at his previous employer to start working for MIFA.

After MIFA bankruptcy the company assets were acquired by the Von Nathusius family, sole shareholder of German auto parts supplier IFA Rotorion-Holding GmbH.

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