Closed Class Action

Ertrag & Sicherheit GmbH was a company registered since 1999 with its registered office in Graz, whose activity was in asset management. By decision of the Regional Court for Civil Matters Graz dated August 31, 2016 (file reference: 26 S 110/16w), insolvency proceedings were opened over the assets of this company. The company’s economic problems are essentially based on the fact that from 2009 onwards, allegedly “particularly attractive” alternative investments were offered.

Customer advice was provided by asset managers of Ertrag & Sicherheit GmbH, who – and this is the crucial point for the enforceability of the claims – each had their own liability insurance.

For aggrieved parties who have subscribed to the following products, litigation financing with AdvoFin has been possible:

• SHEDLIN Middle East Heath Care 1 GmbH & Co KG
• SHEDLIN Middle East Health Care 2 GmbH & CO KG
• SHEDLIN Latin American Property 1 GmbH & CO KG

The insolvency estate of Ertrag & Sicherheit GmbH is not sufficient for even partial satisfaction of the investors. Therefore, claims must be asserted against the liability insurance of the insolvent debtor (Ertrag & Sicherheit GmbH) – the asset managers themselves are not being sued.

The relevant model proceedings are still pending at the Regional Court or Higher Regional Court Graz (partially in the second or third instance). We continuously inform our clients about developments in the matter.