IN THE HIGH COURT OF JUSTICE
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
COMPANIES COURT (ChD)
CR-2025-000088
IN THE MATTER OF
SAINSBURY’S BANK PLC
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IN THE MATTER OF
NATIONAL WESTMINSTER BANK PUBLIC LIMITED COMPANY
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IN THE MATTER OF
PART VII OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (AS AMENDED)
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NOTICE
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NOTICE IS HEREBY GIVEN that by a Part 8 Claim Form dated 17 January 2025, issued in His Majesty’s High Court of Justice, Business and Property Courts of England and Wales, Companies Court (ChD) in London (the “Court”), the above-named Sainsbury’s Bank plc (“Sainsbury’s Bank”) and National Westminster Bank Public Limited Company (“NatWest”) have made an application for:
(1) an order under section 111 of the Financial Services and Markets Act 2000 (as amended) (“FSMA”) sanctioning a banking business transfer scheme (the “Scheme”) for the transfer to NatWest of the Transferring Business (as defined in the document setting out the terms of the Scheme (the “Scheme Document”)). The Transferring Business consists of certain parts of Sainsbury’s Bank’s core banking business, primarily comprising portfolios of certain credit cards, personal loans and savings accounts, but excluding the Excluded Assets and Excluded Liabilities (each 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 may be obtained by any person free of charge by contacting Sainsbury’s Bank using the contact details set out below. All relevant documentation will also be made available on Sainsbury’s Bank’s website in the dedicated section for the Scheme titled ‘Our proposed transfer of your account(s) to NatWest’ at: www.sainsburysbank.co.uk/transfer-scheme. This website will be updated with any key changes in respect of the Scheme.
The application to sanction the Scheme is directed to be heard before the Court at The Rolls Building, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL, United Kingdom on 15 April 2025. If approved by the Court, it is currently proposed that the Scheme will take effect on 1 May 2025.
Any person (including any customer or employee of Sainsbury’s Bank or NatWest) who claims that he or she would be adversely affected by the carrying out of the Scheme may appear at the time of the Court hearing in person or by a representative to present their objections or concerns. Any person who does not intend to attend the Court hearing can make representations in writing to Sainsbury’s Bank using the contact details below. Sainsbury’s Bank will share a summary of any representations it receives with the Court, the Financial Conduct Authority and the Prudential Regulation Authority.
Any person who intends to appear at the Court hearing is requested, but is not required, to give prior notice in writing to Sainsbury’s Bank of such intention, together with their reasons, as soon as possible and preferably by 8 April 2025 by using the contact details below. A failure to give notice in advance does not prevent any person who wishes to do so from attending the Court hearing in person or by a representative.
All questions, objections or concerns and any requests for information relating to the Scheme should be referred to Sainsbury’s Bank using the following contact details.
Telephone: 0800 0142 131 (if calling from within the UK) or +44 800 0142 131 (if calling from overseas). Lines will be open from 8:00 to 20:00 (UK time), Monday to Friday and 8:00 to 18:00 (UK time), Saturday and Sunday (excluding bank holidays).
By email: sbtransferscheme@sainsburysbank.co.uk
By post: Sainsbury’s Bank Part VII
PO Box 5311
Worthing
BN11 9BW
24 January 2025
Linklaters LLP
One Silk Street
London
EC2Y 8HQ
United Kingdom
Ref: L-339753
Solicitors for Sainsbury’s Bank plc