The stage is set for a legal battle between two branches of France’s most famous banking dynasty after Paris Orleans decided to adopt the name Rothschild.
Bloomberg News reports that Edmond de Rothschild group said it will pursue a complaint against Paris Orleans filed in March after the publicly traded French holding company’s decision to use the family name.
The banking group said it “deplores” a decision by Paris Orleans to rename itself Rothschild at an extraordinary general meeting on Thursday.
'The Edmond de Rothschild group has no recourse but to continue its legal proceedings to ensure that family rules are respected and that each Rothschild, in respect for family unity, is able to pursue their activities in healthy and fair competition', the company said in an e-mailed statement.
Edmond de Rothschild group, led by Baron Benjamin de Rothschild and his wife Ariane, filed a competition complaint over the planned name change against cousin David de Rothschild’s Paris Orleans in a Paris court in March.
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