IN THE HIGH COURT OF JUSTICE
CHANCERY DIVISION
COMPANIES COURT
CR-2024-002018
IN THE MATTER OF
TESCO PERSONAL FINANCE PLC
AND
IN THE MATTER OF
BARCLAYS BANK UK PLC
AND
IN THE MATTER OF
THE FINANCIAL SERVICES AND MARKETS ACT 2000
_____________________________________________
NOTICE
_____________________________________________
NOTICE IS HEREBY GIVEN that an application has been made by a Claim Form dated 15 July 2024 (the “Application”) to His Majesty’s High Court of Justice, Chancery Division, Companies Court in London (the “Court”) by the above named Tesco Personal Finance plc (“Tesco”) and Barclays Bank UK PLC (“Barclays”) for:
(1) the sanction of the Court under section 111(1) of the Financial Services and Markets Act 2000 (as amended) (“FSMA”) and in accordance with Regulations made thereunder to a banking business transfer scheme (the “Scheme”) providing for the transfer to Barclays of the Transferring Business (as defined in the banking business transfer scheme document (the “Scheme Document”)). The transferring business consists of Tesco’s banking business, including credit card, personal loan and savings products, and consists of the Transferring Assets and Transferring Liabilities, but excluding the Excluded Assets and Excluded Liabilities (all as defined in the Scheme Document); and
(2) such other orders (including ancillary orders pursuant to Section 112 of FSMA) as the Court thinks fit.
A copy of the Scheme Document, an Explanatory Statement setting out the terms of the Scheme, and this Notice will be given free of charge to any person who requests them from the contact details set out at the end of this notice and will be made available to collect from Broadway One, 199 Renfield Street, Glasgow, G2 3AX until 17 October 2024. All relevant documentation will also be available on the section of the Tesco Bank website dedicated to the Scheme at www.tescobank.com/transfer-scheme.
The Application is due to be heard before a Judge of the Chancery Division of the High Court at The Rolls Building, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL, United Kingdom on 17 October 2024. If approved by the Court, it is currently proposed that the Scheme will take effect on 1 November 2024.
Any person (including any customer or employee of either Tesco or Barclays) who claims that he or she may be adversely affected by the carrying out of the Scheme has a right to attend the hearing and express their views either in person or by a representative. Any person who does not intend to attend the hearing may make representations to the Court directly by writing to the address of the Court shown above.
Any person who does not intend to attend the hearing or make representations to the Court directly may make representations to Tesco using the contact details set out below. Tesco will share any such representations with the Court. Any person who intends to appear at the hearing or make representations in writing is requested (but is not obliged) to notify Tesco of his or her objections as soon as possible and preferably prior to 11 October 2024 using the contact details set out below. A failure to give notice in advance does not prevent any person who wishes to do so from attending the Court hearing either in person or by representative, or from making representations in writing to be put before the Court.
All questions or concerns and any requests for information relating to the Scheme should be referred to Tesco using the following contact details.
Telephone: 0800 40 60 50, or if calling from outside the UK, +44 800 40 60 50. The lines will be open from 09:00 to 18:00 (UK time), Monday to Friday (excluding bank holidays).
By email: transferscheme@tescobank.com
By writing: Broadway One, 199 Renfield Street, Glasgow, G2 3AX
Dated this 26th day of July 2024
Freshfields Bruckhaus Deringer LLP
100 Bishopsgate
London
EC2P 2SR
United Kingdom
Ref: 107856.0335
Solicitors for Tesco Personal Finance plc