This is the last communication with the administrator consult on March 2025:

"Further to my letter dated September 19, 2024, I would like to inform you below about the current state of the Watchmaster insolvency proceedings.

As I have previously informed you, in its judgment dated July 19, 2024 (case no. 506 KLs 15/23) the 6th Criminal Chamber of the Berlin Regional Court I imposed imprisonment sentences on four defendants in connection with the theft of the watches, including the managing director of the safe and locker facility operator. According to the information available to me, the location of the stolen watches could not be ascertained during the investigation in the criminal proceedings. Upon my request addressed to the Regional Court, I was informed that the proceedings were closed with a (partially final) judgment dated July 18, 2024.

The lawsuit I filed with the Berlin Regional Court II for the payment of EUR 14,367,576.31 plus interest, in respect of the burglary and theft of approximately 1,000 watches on November 19, 2022, was dismissed on February 22, 2024 (case no. 24 O 146/23) on the basis that it was unfounded due to lack of maturity. The Regional Court held that the Mannheimer Versicherung AG is allowed to wait for the progress of criminal and investigative proceedings in connection with the burglary and theft.

Currently, the ongoing investigations of the Berlin Public Prosecutor's office against a managing director and an employee of Watchmaster ICP GmbH on suspicion of attempted fraud against the Mannheimer Versicherung AG and an unsworn false statement before the Berlin I Regional Court have not yet been completed. This means that the claim against Mannheimer Versicherung AG for payment of the insurance benefit has still not matured. As a result, it is not possible to make any payment to the creditors at this time. I kindly request and thank you for your patience. As long as the proceedings remain pending, it is not possible for me, despite all efforts, to obtain compensation from the insurer. I have asked the Public Prosecutor's office for access the file in order to assess the status of the proceedings. The files are not yet available to me, but I will keep you informed of all progress and new findings."