High Court Lists Part VII Transfer Hearing for The Co-operative Bank P.L.C.
The High Court of Justice, Insolvency and Companies Court, has scheduled a Part VII transfer hearing involving The Co-operative Bank P.L.C. (Case Number: CR-2026-002324) for 18 August 2026 at 10:30am. The hearing is listed to take place remotely via Microsoft Teams.
Part VII transfer applications are brought under Part VII of the Financial Services and Markets Act 2000 (FSMA 2000). This statutory mechanism enables financial institutions to transfer banking or insurance business from one corporate entity to another with High Court sanction. Unlike winding-up petitions or restructuring under insolvency legislation, a Part VII scheme is a solvent statutory procedure designed to re-organise banking operations, effect corporate consolidations, or transfer asset portfolios while preserving customer rights and operational continuity.
Hearing details
The case details as published on the official court cause list are summarized below:
| Field | Court Data Record |
| --- | --- |
| Court | High Court of Justice, Insolvency and Companies Court |
| Case Number | CR-2026-002324 |
| Case Type | Part VII Transfer (FSMA 2000) |
| Hearing Date | 18 August 2026 |
| Hearing Time | 10:30am |
| Venue | Remotely via MS Teams |
| Subject Entity | The Co-operative Bank P.L.C. |
Company snapshot
The Co-operative Bank P.L.C. (Company Number: 00990937) is an active public limited company incorporated on 5 October 1970. The entity has its registered office at 1 Balloon Street, Manchester, United Kingdom, M4 4BE.
The company operates under Standard Industrial Classification (SIC) code 64191 for banking operations. The entity is dual-regulated in the United Kingdom, holding authorization from the Prudential Regulation Authority (PRA) and regulation by both the Financial Conduct Authority (FCA) and the PRA. Its regulatory status and permissions can be reviewed on the FCA Financial Services Register. Financial statements, director declarations, and statutory filings are maintained on the Companies House register.
Directors and ownership
Public records at Companies House show that The Co-operative Bank P.L.C. maintains an established corporate governance structure comprising executive and non-executive directors alongside regulatory compliance committees required for UK deposit-takers. Corporate ownership details, voting rights disclosures, and person with significant control (PSC) filings are registered and updated in accordance with the Companies Act 2006.
Recent filings and Gazette activity
A review of official publications in The Gazette shows no statutory notices relating to insolvency, receivership, or compulsory liquidation petitions against The Co-operative Bank P.L.C.
Part VII schemes require published notifications in the London Gazette, Edinburgh Gazette, and national press prior to court sanction, ensuring affected policyholders, depositors, and commercial counterparties have notice of the proposed transfer scheme and an opportunity to submit representations to the court.
What this means for suppliers, creditors and counterparties
When a financial institution appears on the court cause list under a Part VII transfer classification, counterparties should distinguish this proceeding from compulsory insolvency actions. A Part VII transfer transfers contractual rights and liabilities by order of the court without requiring individual contractual novation agreements.
To evaluate counterparty risk and track statutory court hearings effectively, risk officers and legal teams should implement the following steps:
1. Review Scheme Circulars: Examine statutory scheme documents, explanatory statements, and regulatory notices published by the transferring entities.
2. Conduct Security and Charge Inspections: Execute a comprehensive company charge check to verify any mortgages, fixed charges, or floating charges affected by the asset transfer.
3. Cross-Reference Cause Lists: Distinguish commercial schemes from insolvency petitions by checking the High Court official roll and reviewing the daily winding-up petitions list.
4. Establish Automated Monitoring: Activate free company monitoring to track statutory filings, corporate changes, and regulatory disclosures in real time.
Realistic scenario: Asset transfer in commercial banking
Consider a commercial borrower holding term facilities secured by debentures registered against a trading entity. Under a High Court Part VII transfer order, the facility agreements, outstanding debt, and underlying security interests automatically transfer to the transferee bank on the scheme effective date. The borrower's existing terms, repayment schedules, and statutory protections remain intact, while charge registers are updated to reflect the new legal entity as chargee.
How to investigate further
Corporate intelligence professionals and legal advisers conducting due diligence can verify court cause lists, inspect corporate registries, and review public Gazette notices. To confirm whether a corporate counterparty faces insolvency proceedings rather than restructuring schemes, conduct a winding up petition search across public indices.
FAQ
What is a Part VII transfer under FSMA 2000?
A Part VII transfer is a statutory mechanism under the Financial Services and Markets Act 2000 allowing regulated financial institutions to transfer banking or insurance business to another entity with High Court sanction.
Does a Part VII court hearing indicate insolvency?
No. A Part VII transfer is a solvent corporate procedure used to execute corporate restructuring, banking consolidation, or portfolio sales. It is not an insolvency proceeding.
How are deposit accounts and loans affected by a transfer scheme?
By statutory order under s.112 of FSMA 2000, rights and obligations under transferred deposit accounts, loan facilities, and security agreements transfer to the target entity automatically on the scheme implementation date.
How can counterparties object to a Part VII transfer?
Any person who alleges that they would be adversely affected by the proposed transfer scheme has the right to attend the court hearing or submit written representations to the High Court prior to the sanction date.
Disclaimer
This report summarises entries on the published court cause list. Presentation of a petition is not a determination of insolvency; the outcome is a matter for the court. Companies believing they are named incorrectly should email contact@corp-intel.co.uk.