Last updated: 10th of October 2025
On 19 November 2022, a burglary occurred at a high-security safe deposit facility operated by Vallog GmbH in Berlin (Fasanenstraße, Charlottenburg). During this incident, numerous valuables were stolen, including watch assets that Timeless was safeguarding on behalf of fractional owners.
The insurance settlement of the damage has not yet taken place. The reason for this lies in extensive police investigations and criminal proceedings before the Berlin Regional Court. In the course of these proceedings, it was established that the former managing director of Vallog GmbH was involved in the offence.
Timeless continues to pursue the enforcement of its claims consistently and, in close coordination with legal counsel, is preparing to assert these claims in court.
Since 07 June 2025 – Timeless has been preparing to pursue legal action against Mannheimer Versicherung AG to enforce its claims. At the same time, outstanding information is being requested from the insolvency administrator of Vallog GmbH.
07 June 2025 – The insurer rejects compensation payments.
03 February 2025 – Access granted to parts of the investigation files and to the written judgment. Commencement of legal review by the appointed lawyers. A demand for compensation was submitted to Mannheimer Versicherung AG.
01 November 2024 – The Berlin Regional Court notes that, due to the extensive main proceedings and limited personnel resources, the complete digitalisation of the investigation files is still ongoing and the written judgment cannot currently be provided.
18 July 2024 – Judgment of the Berlin Regional Court I against several defendants for aggravated theft. Imposition of multi-year prison sentences. Timeless applies for access to the written judgment and investigation files.
04 December 2023 – One of Timeless’s managing directors testifies as a witness in the criminal proceedings and describes the impact of the burglary.
06 October 2023 – Commencement of the criminal trial at the Berlin Regional Court.
06 July 2023 –Timeless registers the claim in the insolvency proceedings.
20 April 2023 – Opening of insolvency proceedings over the assets of Vallog GmbH.
04 January 2023 – Timeless demands compensation from Vallog GmbH.
04 January 2023 – Timeless demands payment of the insurance sum from Mannheimer Versicherung AG
29 December 2022 – The preliminary insolvency administrator of Vallog GmbH informs that the safe deposit box rented by Timeless was also broken into and emptied during the burglary.
09 December 2022 – Timeless asserts claims for the return of the watch assets and disclosure against Vallog GmbH.
05 December 2022 – Timeless, through a lawyer, applies for access to the police investigation files.
19 November 2022 – Burglary at the high-security safe deposit facility operated by Vallog GmbH in Berlin (Fasanenstraße, Charlottenburg). Theft of numerous valuables, including Timeless watch assets. Timeless files a damage report with the vault operator for submission to Mannheimer Versicherung AG, and police investigations are initiated.
Since the burglary on 19 November 2022, Timeless has undertaken all measures available to it in order to clarify the facts of the matter and, in its capacity as service provider, to pursue the enforcement of potential compensation claims on behalf of the fractional owners:
Damage report
mmediate notification of the loss to the insurer.
Cooperation with Investigative Authorities
Collaboration with the police and the public prosecutor’s office. One of Timeless’s managing directors was summoned as a witness in the criminal proceedings and described the impact of the burglary on the affected fractional owners
Insurance-related support
Ongoing communication with Mannheimer Versicherung AG and submission of the documents required for the processing of the claim.
Access to files
Repeated applications for access to the investigation files and court documents in order to enable a well-founded legal assessment of the facts.
Segregation of insurance claims
In the course of the insolvency proceedings of Vallog GmbH, Timeless secured the segregation of the insurance claims against Mannheimer Versicherung AG, so that these do not fall into the insolvency estate but may be asserted directly by Timeless.
Legal review
Engagement of external lawyers to review the legal basis of the claims and the insurance conditions.
Enforcement of claims
After receiving parts of the judgement and investigation files, Mannheimer Versicherung AG was requested to provide compensation.
Preparation of legal proceedings
As no payment has yet been made, Timeless, in consultation with its appointed legal counsel, is preparing to pursue the insurance claims through court proceedings
Ongoing requests for files
Although the written reasons for judgment are now available, the investigation files have not yet been fully digitised and can therefore only be reviewed in part. Timeless and its instructed legal counsel are continuously requesting disclosure of the complete files
Examination of claims
Upon receipt of the currently available judgment and investigation materials, our solicitors are conducting an in-depth legal review to finalise the assessment of the bases of claim and to prepare the statement of claim
Filing of the lawsuit
On the basis of the documents available, Timeless will assess and, if appropriate, initiate court proceedings to pursue the insurance claims against Mannheimer Versicherung AG.
Fractional owner information
Timeless will inform affected fractional owners promptly about the progress of the proceedings and about significant interim steps (e.g. filing of the lawsuit, court hearings).
Next update
This page will be updated at the latest upon filing of the lawsuit or once new essential findings from the investigation files become available.
The criminal proceedings before the Berlin Regional Court were concluded in July 2024 with convictions against several defendants and are now final. The written judgment is available. These proceedings were of particular importance to us, as they provided access to key information and documents to which we had previously not been granted access.
However, the investigation files are still only partially available. In addition, Mannheimer Versicherung AG has to date made no compensation payment.
Timeless promptly reported the loss, gave testimony as a witness in the criminal proceedings, and submitted several applications for access to the files. The insurance claims were segregated in the insolvency proceedings of Vallog GmbH in favour of Timeless. Following receipt of the written judgment, Timeless requested compensation from Mannheimer Versicherung AG. As no payment has been made, the judicial enforcement of the claims is now being thoroughly examined.
The affected assets were stolen during the burglary and are no longer physically available.
A binding date cannot currently be specified. A payout would only be possible if the insurer were to settle the loss or if a court were to issue a final and binding determination in civil proceedings.
No. The insurance claims were segregated and are exclusively vested in Timeless. Individual enforcement by fractional owners is therefore not possible.
Timeless regularly informs affected fractional owners by email and via this update page. Important steps such as the filing of the lawsuit or new developments regarding the investigation files will be communicated promptly.
