Bank Companie North
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The bank Companie Nord AG (BCN) was a German private bank based in Kiel .
history
The financial institution was founded in 1896 as Landschaftliche Bank Schleswig-Holstein , a subsidiary of the Realkreditinstitut Schleswig-Holsteinische Landschaft (SHL, merged in 2002 with the Deutsche Genossenschafts-Hypothekenbank ).
In 1994, the SHL sold BCN, which was heavily indebted due to many bad loans. The buyers were the former Federal Transport Minister Günther Krause on the one hand, and the agricultural traders Peter and Alexander Rothe, owners of Getreide AG , on the other, at 50% each . Krause also took over the chairmanship of the supervisory board, Otto Bernhardt took over the management.
In 1997, the Luxemburgische Internationale de Participations bancaires et financières (Cipaf), the financial investment arm of the conglomerate General Mediterranean Holding (GMH) of the British billionaire Nadhmi Auchi of Iraqi origin , took part in BCN and took control. In the 2003 financial year, the balance sheet total was 114 million euros. With effect from June 11, 2003, the Association of German Banks excluded the credit institution from the deposit protection fund because Cipaf only wanted BCN, but not the parent company involved in the Elf Aquitaine scandal, to undergo a deposit protection test. BCN has been for sale ever since. In 2006 the company was converted from a stock corporation into a GmbH .
The business premises and part of the customer base were finally taken over by the Danish Sydbank in 2007 . Bank Companie Nord GmbH has been in liquidation since 2008 .
Individual evidence
- ↑ Research in the commercial register of the Kiel District Court HRB 8409 KI or 637 KI at http://www.handelsregister.de/
Coordinates: 54 ° 19 ′ 20.8 ″ N , 10 ° 8 ′ 36.1 ″ E