Closed Class Action

The two AMIS companies, AMIS Financial Consulting AG and AMIS Asset Management Investment Services AG, operated primarily as financial consulting firms in Austria and Germany. According to AMIS, investors’ funds were supposed to be invested in secure and high-yield investment forms.

In reality, investments were made in Luxembourgish funds – specifically in so-called “SICAV funds” and the “Vario Invest Fund”, which were managed by AMIS. From these SICAV funds, part of the money was transferred to shell companies in Florida, the Cayman Islands, and Liechtenstein, from where most of it disappeared.

In November 2005, insolvency proceedings were opened for both AMIS companies. It was then discovered that approximately 16,000 investors had been harmed and the total damage amounted to approximately EUR 200 million.

In this case, AdvoFin represented 2,300 affected parties with total damages of almost €22.5 million. Claims against AMIS, AeW (Investor Compensation from WPDLU GmbH), and the Republic of Austria were pursued, and significant recoveries of capital were achieved for the clients.

Participation in the “AMIS” collective action is no longer possible as the registration deadline has expired. Affected parties who have joined our collective action can inform themselves in the news blog about the previous activities and the current status of the proceedings. Furthermore, our contract clients receive regular updates on the status of affairs.

The affected parties have already been able to achieve a significant recovery of their losses through AdvoFin’s litigation funding.