Insolvency proceedings at Gallus Immobilien: Investors in great danger!

Insolvency proceedings at Gallus Immobilien: Investors in great danger!

On June 4, 2025, the Heidelberg District Court opened preliminary insolvency proceedings against the assets of Gallus Immobilienkonzept GmbH (ref. 51 IN 11/25). anwalt.de reports that a provisional insolvency administrator, lawyer Dr. Johannes Hancke, was appointed. However, there are considerable doubts about the opening of final insolvency proceedings, as there are numerous claims and claims for damages against the company and its assets are small.

Affected investors and subordinated lenders are called upon to have their legal claims carefully examined, especially if insolvency proceedings are opened. On July 2, 2025, BaFin expressed concerns that Gallus Immobilien Concepts GmbH was offering AMAGVIK AG participation certificates in Germany without the required sales prospectuses, which is unlawful and potentially punishable.

Investors and their rights

Investors who have agreed to an exchange or conversion into participation certificates should try to cancel this agreement. Investors are also advised to check their investment advisors or intermediaries for possible liability due to incorrect advice and information. They are legally obliged to provide investors with comprehensive information about the risks and special features of the products offered.

In the event of incorrect advice, investors can claim damages from their advisors. In addition, they should have no concerns about enforcing their claims even if the consultants go bankrupt, as they usually have financial loss liability insurance.

Risks of subordinated loans

BaFin also points out the high risks of subordinated loans, which have often been mentioned recently in connection with insolvencies. This form of investment has its own complexity. With subordinated loans, in the event of insolvency, investors' claims are only serviced after other creditors, which is known as subordination. The risk of total loss is high when investing in subordinated and profit-participating loans due to the lack of transparency and often unclear business models. Investors generally have no influence on the company's management.

In addition, it is expected that providers of corporate investments and investments will in future have to prepare an approved prospectus in accordance with the Capital Investment Act in order to ensure the protection of small investors. This regulation is expected to be strengthened by the Small Investor Protection Act. However, a prospectus does not guarantee the profitability of the product or the reliability of the provider.

In times of low interest rates, many investors are looking for higher returns, which increases the risk of bad investments. Against this background, it is particularly important for investors to be skeptical about promises of above-average returns and to inform themselves thoroughly about the respective form of investment. Legal advice can also be obtained from specialized lawyers or consumer advice centers. The law firm Seimetz & Colleagues offers services in the area of ​​capital investment law and insolvency proceedings and can provide valuable support to affected investors.