Wirecard Bank Has $237 Million, Administrator Says (Correct)

Wirecard AG’s administrator told the disgraced payments company’s creditors that its banking unit has about 200 million euros ($237 million) in cash left, according to people familiar with the matter.

That cash will first be used to wind down the lender, but any remaining money will be paid out to creditors, the administrator, Michael Jaffe, told a meeting of about 74 people at Munich’s Loewenbraukeller. The people familiar with his remarks requested anonymity to discuss the Wednesday gathering.

Wirecard spectacularly collapsed in June after it said that much of the cash reserves it reported didn’t exist. Jaffe has since ...