McDermott Advises Postcon NRW, Germany’s Largest Alternative Postal Service Provider, on Successful Reorganization
Düsseldorf, May 17, 2022 – McDermott Will & Emery has advised alternative postal service provider Postcon NRW GmbH on its successful reorganization in self-administration.
Postcon NRW GmbH’s creditors approved the insolvency plan without any dissenting vote on May 6, 2022. Having already been confirmed by the insolvency court, the plan is ready to be implemented and insolvency proceedings are expected to be lifted shortly.
Postcon NRW GmbH had filed for insolvency on November 17, 2021. The Düsseldorf Local Court granted the management’s application to conduct the proceedings in self-administration and opened the proceedings on February 1, 2022. Attorney Dr. Markus Kier, Piepenburg Rechtsanwälte, was appointed as administrator.
A McDermott team led by Düsseldorf-based partner Dr. Marc Oberhardt, who specializes in insolvency-related restructuring solutions, supported the company around Managing Director Jörg Kosel and Restructuring Managing Director Dr. Hans Peter Döhmen of döhmen consulting in all legal matters through the self-administration. The insolvency plan procedure was completed in approximately six months without any significant job cuts. Around 1,050 jobs will be retained at Postcon NRW GmbH, which will change its name to xendis Versandlogistik GmbH from June.
Postcon NRW GmbH is the largest alternative mail delivery service in Germany, with a primary focus on transporting business mail for private companies and public-sector clients. Mail is delivered within large parts of North Rhine-Westphalia by around 800 of the company’s own delivery staff via its own sorting center and 55 local delivery depots.
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