Crack Fwu, how the IT hole slows down creditors' claims
Lost access to databases and systems: 250,000 pre-filled application forms are arriving. About 100,000 Italian policyholders affected
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Key points
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After months of silence for policyholders with the Luxembourg company Fwu, which has gone into compulsory liquidation, comes a new communiqué from the liquidator Yann Baden that raises more than a few concerns. The note was published on Friday 11 July on the liquidation website (www.fwulifelux.com).
Firstly, the company in Lca (which also counts around 100,000 Italian policyholders among its customers) admitted that it had lost access to its databases and IT systems on 31 January 2025, as these were managed by the German parent company Fwu Ag.
Therefore, the liquidator had to work to re-establish individual contacts with clients and, above all, to recreate a functioning computer system and retrieve policy information and data from backups or available data.
"What has happened and has been transparently admitted by the liquidator generates the need to verify that the data retrieved by the commissioner is indeed complete," explains Antonio Pinto, head of the financial products sector at Confconsumatori. "The commissioner appeals to customers' patience and asks for an understanding that insolvency proceedings overseen by the Luxembourg court take time.
The liquidation team has so far managed to re-establish communication channels via e-mail, mail and telephone. A multilingual line was also implemented to ensure access to clear information also in Italian.
