From global corporation to bankruptcy estate? – What the current insolvency proceedings concerning myWorld and Lyconet reveal

Global expansion, billions in revenue and international holdings – the insolvency administrators are now painting a completely different picture.

The insolvency proceedings surrounding myWorld and Lyconet are progressing considerably slower than many affected parties would like. However, anyone following the current reports from the insolvency administrators, the ongoing investigations, and the international court proceedings will recognize that the factual and legal findings are becoming increasingly clear. For years, Lyoness, Lyconet, and later myWorld presented the image of a globally successful corporate group with international expansion, numerous holdings, and prestigious projects. Today, this construct is no longer described by marketing presentations but is being examined by insolvency administrators, auditors, courts, and investigative authorities. With each new report, it becomes clearer what actually remains of the once-touted corporate values. While the proceedings may be moving slowly, recent developments show that the investigation is by no means at a standstill.

Hubert Freidl is increasingly coming into focus in the insolvency proceedings.

According to the insolvency administrator of Lyconet Austria GmbH, Hubert Freidl is said to have issued a letter of guarantee for €400,000. However, according to the latest report, the fulfillment of this obligation was rejected.

Once the existing insolvency deficiency has been eliminated, the insolvency administrator will, according to his own statement, initiate appropriate legal proceedings.

Extended investigation procedure

In parallel with the civil law measures, the insolvency administration continues to pursue criminal law options.

The current report confirms that the insolvency estate has joined the ongoing investigation as a private party. The insolvency administrator explicitly refers to the operation of an illegal pyramid scheme and other potential criminal offenses.

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Spain: Investigations continue – but the process will take years to resolve.

Authorities outside of Austria are also continuing to investigate the Lyoness and myWorld complex.

Particular attention is being paid to the investigations before the National Court in Madrid.

The interests of more than 1,000 affected individuals are now represented there.

However, recent statements from the court indicate that the investigation will take significantly longer than initially anticipated. According to the court, this is primarily due to staff shortages, vacant positions, and limited financial and organizational resources.

From the distribution system to forensic evidence collection

For years, the presentations focused on new countries, new career levels, new participation models and ever new growth targets.

Today, insolvency administrators, auditors and external specialists are dealing with completely different issues.

The focus is particularly on the following questions:

When did the material insolvency actually occur?
What asset transfers took place within the corporate group?
Are there any liability claims against board members or third parties?
What assets actually still exist?

The fact that these questions have now taken center stage is clearly demonstrated by the development of the proceedings. While the insolvency administrators are simultaneously liquidating real estate, shareholdings, trademark rights, and even the group’s Learjet, attention is increasingly turning to the past. Shareholdings in dozens of international subsidiaries have now been put up for sale, as have the “myWorld” brand, a property in Styria, and the company’s Learjet 75.

Conclusion

The story of Lyoness, Lyconet and myWorld has long since entered a new phase.

Development is no longer driven by expansion, international growth plans, or successful events.

Instead dominate today :

Insolvency proceedings,
Asset liquidation,
Liability issues,
international investigations,
as well as the search for remaining assets.

Perhaps the most important lesson learned in recent months is this:

The further the insolvency proceedings progress, the more apparent the discrepancy becomes between the company values conveyed over the years and the assets that are actually available to creditors and those affected today. The structure, once presented as a global corporation, is now being dismantled piece by piece, analyzed and liquidated.

For many former marketers, this leaves one question unanswered:

Was the international size truly an expression of economic substance – or primarily part of an impressive corporate spectacle?

Source:

This article is based on publicly available sources, documented user reports, and editorial analysis. It serves to inform the public and is protected by the freedom of the press and expression guaranteed by Article 5 of the German Basic Law, Article 10 of the European Convention on Human Rights, and Article 85 of the GDPR. Facts and opinions have been carefully separated and clearly marked.

Sources (as of June 22, 2026):

This article is based on public insolvency records, reports from the insolvency administrators, court publications of the Republic of Austria, and court documents from the Spanish investigation. None of the aforementioned investigations had yet been legally concluded at the time of publication.