Pharmacies Await Distribution from AvP Bankruptcy Proceedings

Pharmacies are still waiting for a planned preliminary distribution in the ongoing AvP bankruptcy proceedings. A spokesperson from the Düsseldorf District Court indicated that it is currently unclear when the funds will be distributed to the pharmacies. The distribution plan currently proposes a payment of 26 percent on the verified claims.

This anticipated distribution is part of the settlement agreement reached by nearly all pharmacies affected by the bankruptcy at the end of 2023. These pharmacies received preliminary payments in three installments, totaling approximately 15.4 percent of their claims. In return, they agreed to waive any claims for separate rights.

Additionally, other claims that have been thoroughly reviewed and confirmed in the bankruptcy table can be paid out proportionally. Not only pharmacies are involved in this process; other creditors are included as well. According to the bankruptcy administrator, Jan-Philipp Hoos, all necessary documents, including the updated bankruptcy table and distribution plan, were submitted to the bankruptcy court by the end of March.

The distribution plan outlines a quota payment of 26 percent on the confirmed claims, which the court references. However, the examination of these claims is ongoing, as the court must verify around 2,500 claims for accuracy. Legal representatives of the pharmacies have been informed that this review should be completed soon, though no official confirmation has been provided.

Claims that have not yet been finalized in the bankruptcy table or are disputed may still be distributed later, at the latest during the final distribution. Provisions have been set aside within the bankruptcy proceedings for these claims. These provisions will either be distributed to individual creditors or added to the general pool for final distribution. Reportedly, the reserves for disputed claims and default claims amount to approximately 60 million euros.

Including the upcoming distributions, pharmacies can expect to recover about 41 percent of their claims overall.