Creditors insist on $27 million payment from Shoe Corporation
In Bavaria, the insolvency trial of renowned chef Alfons Schuhbeck is ongoing, with the celebrity chef largely admitting charges of insolvency fraud and fraud with corona aid[1]. The trial, which commenced on July 1, 2025, has been streamlined to expedite proceedings, despite Schuhbeck's health condition[1][2].
Schuhbeck, who is already serving a prison sentence for tax evasion, anticipates a total sentence of between at least four and at most four years and eight months, including the three years and two months he has already served[3]. The court's decision to streamline the trial and dismiss proceedings for individual acts that need further examination is a testament to the complex nature of the case[1].
The financial situation of Schuhbeck's companies, which have left behind a debt pile of approximately 27 million euros, has been a central focus of the trial[1]. The intertwined nature of these companies, with no clear separation between them, has added to the complexity of the case[1]. It is believed that money was transferred from companies whose accounts had not been seized to others to plug financial holes[4].
The exact cause of the debt accumulation is not explicitly detailed, but the high level of indebtedness typically points to business mismanagement, excessive financial commitments, or underperformance of the business ventures associated with the star chef[5]. The number of creditors is not yet clear, as more could still be added[4].
Despite the financial difficulties, the insolvency administrator, Max Liebig, expects a recovery rate in the low double-digits[6]. The only real value in the insolvency proceedings seems to be the brand Alfons Schuhbeck.
Schuhbeck's lawyers have stated that he is suffering from an incurable form of cancer and is being treated outside of prison[7]. The execution of Schuhbeck's current prison sentence has been suspended for health reasons until mid-September[8].
The trial proceedings were streamlined at the request of the prosecution, with the hope that the trial will conclude with the closing arguments from the prosecution and defense, and the verdict against the former star chef. The trial is set to continue on July 14.
The bookkeeping for Schuhbeck's companies was often flawed, and there were no annual financial statements for years[5]. When the insolvency proceedings started in 2021, there was hardly any meaningful accounting for the companies[5].
[1] https://www.sueddeutsche.de/wirtschaft/alfons-schuhbeck-insolvenz-1.5737974 [2] https://www.sueddeutsche.de/muenchen/alfons-schuhbeck-insolvenz-1.5737974 [3] https://www.sueddeutsche.de/muenchen/alfons-schuhbeck-insolvenz-1.5737974 [4] https://www.sueddeutsche.de/wirtschaft/alfons-schuhbeck-insolvenz-1.5737974 [5] https://www.sueddeutsche.de/wirtschaft/alfons-schuhbeck-insolvenz-1.5737974 [6] https://www.sueddeutsche.de/wirtschaft/alfons-schuhbeck-insolvenz-1.5737974 [7] https://www.sueddeutsche.de/wirtschaft/alfons-schuhbeck-insolvenz-1.5737974 [8] https://www.sueddeutsche.de/muenchen/alfons-schuhbeck-insolvenz-1.5737974
- The ongoing insolvency trial of Alfons Schuhbeck in Bavaria has raised questions about the community's employment and finance policies, given the financial difficulties of his companies and the alleged fraudulent activities.
- In light of the complex business dealings of Alfons Schuhbeck, including tax evasion, insolvency fraud, and fraud with corona aid, the trial has garnered attention not only in general-news but also in crime-and-justice sectors.
