Marko Sedovnik stripped of his directorship and banned for two years by court order of the Commercial Court of Cardiff 

Lyoness veteran Marko Sedovnik was banned from acting as a director and officer of a company for two years from 8 March 2024 by a court order issued by the Commercial Court of Cardiff on 16 February 2024. The reason given for this decision was his “activities and behaviour as a director at myWorld” and, according to our information, he is still under investigation by the relevant authorities. 

On 6 March 2024, he resigned as a director of all myWorld companies based in London and was replaced at short notice by Dominic Hubert Kollmann, the son of Hubert Freidl. However, the 30-year-old Kollmann is only likely to hold this position temporarily. 

This has been clearly defined by law: 
 
Persons who are already registered as managing directors, directors or board members must resign immediately upon the occurrence of a “court-ordered disqualification”. 

Disqualification occurs under the law in the case of criminal convictions for certain “business-related” offences. 

Sentences of more than 6 months’ imprisonment are relevant. Whether this prison sentence was suspended or not is irrelevant. 
 

The relevant offences include classic white-collar crimes such as embezzlement, fraudulent crida, grossly negligent impairment of creditor interests, money laundering, agreements restricting competition in public procurement procedures and tax fraud.   Fraud is also included in the catalogue of offences - regardless of whether it qualifies as serious or commercial fraud – although, according to the explanatory notes, it is “committed by authorised bodies on a case-by-case basis, but not typically”. 

It concerns, among others 
MYWORLD HOLDINGS LIMITED, MYWORLD REAL ESTATE LIMITED, MYWORLD MEDIA GROUP LIMITED, MYWORLD ENTERPRISE LIMITED, MYWORLD LOGISTICS LIMITED, MYWORLD INTERNATIONAL LIMITED, EYETIME INTERNATIONAL LIMITED, ONE SENSE INTERNATIONAL LIMITED, LYCONET MARKETING AGENCY LIMITED, PROJECT BREWHOUSE LIMITED, etc. 
 
The disqualification is limited in time.  

If the conviction became final more than two years ago, it expires and the convicted person may be reappointed as a managing director or board member. 
 
It remains to be seen whether Sedovnik will be reappointed as a director in a few years’ time. 

The Freidl companies are crumbling worldwide.