Lyoness – Cashback World / In the market without valid General T&Cs?
The Lyoness General T&Cs from the past have been declared null and void by a court ruling, but also the company’s current General T&Cs have been classified as being immoral.
Lyoness is no longer a partner of the Austrian Golf Association!
The cooperation between the Austrian Golf Association and Lyoness no longer exists, as confirmed to us in writing by the Secretary General, Mr. Robert Fiegl. In March 2015, Lyoness announced a long-lasting and groundbreaking partnership with the Austrian Golf Association and its 100,000 members. However, after only one year the “long-lasting” partnership had come to […]
Lyoness Suisse GmbH withdraws its appeal at the High Court of Appeal in Zug! The conviction as a “snowball system” is therefore final.
Journalists have treated Lyoness (now “Cashback World”) for a long time as a “pariah” and their latest press release has once again validated this deserved reputation. But have a look for yourself! Press release from the 31st of May 2015 The way Lyoness expresses itself in its latest press release is of almost unsurpassable arrogance. […]
The Lyoness General T&Cs are “NULL AND VOID”
The Supreme Court in Vienna has rejected the appeal On the 18th of May 2017, the Austrian Supreme Court in Vienna delivered a long overdue, 53-pages-long verdict (Verdict Supreme Court General T&Cs, Ref. no. 10 Ob 45/16i) regarding the General T&Cs of Lyoness and rejecting the appeal made by Lyoness. The verdict, which had been […]
The Lyoness press release on the General T&Cs verdict is wrong!
In this blog entry, I will publish the latest press release by Lyoness, in which Lyoness comments on the verdict by the Austrian Supreme Court dealing with the company’s General Terms and Conditions. I will voice an opposing point of view, uncover any lies within the press release and will explain why many of the […]
Lyoness and the vouchers! Legally and financially innocuous?
All loyalty programmes (e.g. Miles&More) have to make financial provisions for non-monetary benefits like collected points or frequent flyer miles, as consumers can decide to redeem them at any point. As an example, Lufthansa has to set up millions on its balance sheet for its high-status miles-club members’ non-expiring frequent flyer miles. Depending on the […]
Court of appeal’s final judgement – Significance
The court has made a very clear final decision in the case (case file 31 C 651/16z 11) which will surely apply to all damaged parties: They acted as consumers and never stood a chance of obtaining the advantages promised without recruiting new members. The court’s reasoning shows a comprehensive view of what happened. Several […]
It´s official: Lyoness is a pyramid scheme!
As expected, Lyoness lodged an appeal against Salzburg District Court´s decision (31 C 651/16z – 11). The court of Appeal at the Regional Court Salzburg has now dismissed the appeal (22 R 351/16w) and confirmed that Lyoness is indeed a pyramid scheme. A further appeal at the Austrian Supreme Court (OGH) is not allowed.
Prosecutor´s Office: Criminal complaint against Lyoness founder
After years investigating, the Austrian Prosecutor´s Office Against Economic Crime and Corruption (WKStA) has filed a criminal complaint against Lyoness’ founder Hubert Freidl at the Criminal Court Graz. Mr Freidl is being charged with not having published a prospectus in time for an investment subject to the obligation to publish one. Additionally, they requested the […]
Lyoness declared “Pyramid Scheme” on judgement (case file 21 C 311/15m) from 09/08/2016!
An additional judgement (case file 21 C 311/15m) of the Vienna District Court for Commercial Matters from 09/08/2016 confirms two previous judgements and consolidates previous rulings that define Lyoness as a pyramid scheme. We expect Lyoness to try to play for time and drag on the process with appeals.