myWorld and insolvency facts: 4,000 euros in the account, 56 million euros in tax debt, 5 million euros in vouchers paid in outstanding!

The figures are clear: debts of up to EUR 63.9 million, around 4,000 euros in the business account, hardly any realisable assets, and what little remains of value, such as the company’s own property and the ‘myWorld’ brand, is blocked by government liens. The property in the cadastral municipality of Maierhofen (EZ 174, KG 62232) is pledged to the tax office for large companies, which had already obtained a security order on 30 December 2022. At that time, the insolvency of myWorld International AG was already openly documented.

A crisis concealed at the Lyconet event? Just a few months later, on 7 July 2023 – 8 July 2023, the company still appeared to be a global player at the major Lyconet marketing event in the Veltins Arena in Gelsenkirchen. Those responsible publicly celebrated ‘marketers as shareholders’ there, even though it must have been clear at that point that the company was financially ruined. For insiders, this was a clear indication that creditors, consumers and probably also partners were being deliberately kept in the dark.

Realizable assets? Almost everything pledged

Although the balance sheet still shows assets in the double-digit million range, a closer look reveals that almost all valuable assets are blocked by liens.

The company’s property in Maierhofen is subject to a security lien by the tax office.
A Learjet 75, leased from the group’s own Lycoair GmbH, is defective, unable to fly and also pledged.
The ‘myWorld’ brand, once the company’s central asset, is under state seizure.

What remains?

A liquidity cushion of around 4,000 euros in the business account, which is just enough to cover the initial legal costs.

Over 100,000 creditors – including many small investors

Particularly explosive: according to its own statements, myWorld owes around 5 million euros from voucher sales, spread across more than 100,000 creditors worldwide. Many of them are small investors and consumers who invested in supposedly ‘value-secured benefits’. Although these small creditors will be able to file their claims, realistically they can only hope to recover a fraction of their losses.

The real elephant in the room: tax claims of over 56 million euros

However, the biggest risk factor lies in the area of tax law: An ongoing tax audit for the years 2015 to 2019 has led to a disputed additional tax claim by the tax office of around 56.4 million euros. The background to this is the internal offsetting of licence fees between myWorld AG and its numerous foreign subsidiaries. The tax authorities see this as a violation of the arm’s length principle, which the company vehemently disputes. Proceedings are pending before the Federal Finance Court.

But the threat is real: if the tax office prevails with its argument, restructuring would be impossible. As a precautionary measure, the tax authorities have already obtained liens on all of the company’s core assets. A Learjet has already been seized, with the proceeds of €7.2 million serving as collateral.

A group with structural problems

myWorld is backed by a complex network of companies with more than 47 foreign subsidiaries. Many of these are likely to be financially dependent on the Austrian parent company, a constellation that is not only problematic in terms of the balance sheet but also harbours risks of insolvency law challenges. Claims within the group are expected to be largely written off, which means they are economically worthless.

Conclusion: restructuring with question marks

The facts paint a bleak picture: a company whose brand values are pledged, whose aircraft fleet is grounded, which has more creditors than customers and is involved in a tax dispute worth millions with the tax authorities is hardly capable of restructuring, at least not under normal conditions.

The restructuring plan is in danger of becoming worthless, and the insolvency of myWorld International AG reveals the true state of a severely burdened business model.

Note: This article is intended solely for information, journalistic analysis and independent opinion-forming within the meaning of Article 5 of the German Basic Law and Section 51 of the German Copyright Act (UrhG) (right to quote). All information is based on publicly available sources, official announcements and careful editorial research. Despite the utmost care, we do not guarantee the accuracy, completeness or timeliness of the information contained herein.

Sources:

– KSV1870, Insolvency Register ‘myWorld International AG’ (opening of restructuring proceedings, 04.08.2025; assets/liabilities, creditors, employees)

– Salzburger Nachrichten, ‘Lyoness successor company myWorld International AG insolvent’ (insolvency filing, number of employees, insolvency administrator)

– Die Presse, ‘Lyoness successor myWorld International AG insolvent’ (business model, investor status, staff cuts)

– Trending Topics / Newsrooms.ai, ‘Ex-Lyoness myWorld is bankrupt – possibly 56.3 million euros in taxes outstanding’ (excessive debt including tax claims, voucher debts)