News

Insinger de Beaufort N.V. ("IdB") - Part VII Transfer

15 August 2017

In April 2016 BNP Paribas agreed to sell to KBL European Private Bankers S.A. (“KBL”) the business of Bank Insinger de Beaufort N.V. (“IdB”) and that transaction completed on 31st December 2016. As a result it is now intended that on 1st December 2017 the activities of the London branch of IdB should be transferred to Brown Shipley & Co Limited (“Brown Shipley”), a wholly owned bank and wealth management business that is part of the KBL group.

The move to Brown Shipley will provide clients with a bespoke personal service, where we endeavour to maximise, preserve and enhance the wealth of an individual today, tomorrow and for future generations. Complemented by modern and innovative thinking, Brown Shipley will provide individual solutions to help clients achieve their ambitions.

The transfer to Brown Shipley will be accomplished using a procedure that involves the approval of the Court in the UK and of the regulators both in the UK and the Netherlands. For this purpose an application will be made jointly by IdB and Brown Shipley to the High Court of England and Wales under Part VII of the Financial Services and Markets Act 2000. The hearing to sanction the transfer will take place on 12th October 2017 at the Royal Courts of Justice, Strand, London, WC2A 2LL England.

There are some important points that we need to draw to your attention and below are links to the scheme documents and “Frequently Asked Questions” which we hope will assist you in understanding how the procedure works and what it means for you. Your existing relationship manager is also on hand to answer any queries you may have.

 

Part VII Court Hearing - 12th October 2017

IN THE HIGH COURT OF JUSTICE – INSOLVENCY AND COMPANIES

The Rolls Buildings

Court 11 Before HHJ Barker QC

Thursday 12th October 2017

11:30 AM Scheme of Arrangement

CR-2017-005228 Bank Insinger De Beaufort N.V.


Part VII Transfer

On 12th October 2017 in the High Court of Justice Chancery Division approval was granted to integrate the activities of the London branch of InsingerGillissen N.V (formerly Bank Insinger de Beaufort N.V) to Brown Shipley & Co Limited (“Brown Shipley”), a wholly owned bank and wealth management business that is part of the KBL group. The move to Brown Shipley will provide clients with a bespoke personal service, where we endeavour to maximise, preserve and enhance the wealth of an individual today, tomorrow and for future generations. Complemented by modern and innovative thinking, Brown Shipley will provide individual solutions to help clients achieve their ambitions.

The transfer of business to Brown Shipley will be effective as at 1st December 2017.

Contact Us

If you would like to discuss any aspect of the transfer please contact your relationship manager or e mail us at info@brownshipley.com