Decision

Decision on Banque J. Safra Sarasin Ltd

Updated 27 May 2021

Order under the Companies Act 2006

In the matter of application No. 3215

For a change of company name of registration No. 09896852

Decision

The company name BANQUE J. SAFRA SARASIN LTD has been registered since 13 July 2018 under number 09896852. Prior to this, the company was called BANQUE JACOB SAFRA (SUISSE) SA LTD registered on 22 December 2017 and prior to this BANQUE DE NEUF YORK MELLON SA NV LTD incorporated on 1 December 2015.

By an application filed on 8 July 2020, BANQUE J. SAFRA SARASIN SA applied for a change of name of this registration under the provisions of section 69(1) of the Companies Act 2006 (the Act).

A copy of this application was sent to the primary respondent’s registered office on 3 September 2020, in accordance with rule 3(2) of the Company Names Adjudicator Rules 2008. The copy of the application was sent by Royal Mail “Signed For” service and also by standard mail. On 3 September 2020, the Tribunal wrote to Benjamin Balducci, Théo Barthout and Alexis Candelier to inform them that the applicant had requested that they be joined to the proceedings. The letters sent to Benjamin Balducci, Théo Barthout and Alexis Candelier by Royal Mail “Signed For” service and by standard mail were returned “not known at this address”. No comments were received from Benjamin Balducci, Théo Barthout and Alexis Candelier in relation to this request. On 21 December 2020, Benjamin Balducci, Théo Barthout and Alexis Candelier were joined as co-respondents. On 21 December 2020, the parties were advised that no defence had been received to the application and so the adjudicator may treat the application as not being opposed. The parties were granted a period of 14 days to request a hearing in relation to this matter, if they so wished. The letter sent to Benjamin Balducci by Royal Mail “Signed For” service was returned “not at this address”. No request for a hearing was made.

The primary respondent did not file a defence within the two month period specified by the adjudicator under rule 3(3). Rule 3(4) states:

The primary respondent, before the end of that period, shall file a counter-statement on the appropriate form, otherwise the adjudicator may treat it as not opposing the application and may make an order under section 73(1).

Under the provisions of this rule, the adjudicator may exercise discretion so as to treat the respondent as opposing the application. In this case I can see no reason to exercise such discretion and, therefore, decline to do so.

As the primary respondent has not responded to the allegations made, it is treated as not opposing the application. Therefore, in accordance with section 73(1) of the Act I make the following order:

(a) BANQUE J. SAFRA SARASIN LTD shall change its name within one month of the date of this order to one that is not an offending name ^{[footnote 1]};

(b) BANQUE J. SAFRA SARASIN LTD, Benjamin Balducci, Théo Barthout and Alexis Candelier each shall:

(i) take such steps as are within their power to make, or facilitate the making, of that change;

(ii) not to cause or permit any steps to be taken calculated to result in another company being registered with a name that is an offending name.

In accordance with s.73(3) of the Act, this order may be enforced in the same way as an order of the High Court or, in Scotland, the Court of Session.

In any event, if no such change is made within one month of the date of this order, I will determine a new company name as per section 73(4) of the Act and will give notice of that change under section 73(5) of the Act.

All respondents, including individual co-respondents, have a legal duty under Section 73(1)(b)(ii) of the Companies Act 2006 not to cause or permit any steps to be taken calculated to result in another company being registered with an offending name; this includes the current company. Non-compliance may result in an action being brought for contempt of court and may result in a custodial sentence.

BANQUE J. SAFRA SARASIN SA, having been successful, would normally be entitled to a contribution towards its costs. However, the applicant has confirmed that it did not contact the respondent prior to making the application. In accordance with 10.4.1 of the Company Names Tribunal: Practice Direction 2014, an award of costs will not be made in this case.

Any notice of appeal against this decision to order a change of name must be given within one month of the date of this order. Appeal is to the High Court in England, Wales and Northern Ireland and to the Court of Session in Scotland.

The company adjudicator must be advised if an appeal is lodged, so that implementation of the order is suspended.

Dated 29th March 2021

Susan Eaves
Company Names Adjudicator

1. An “offending name” means a name that, by reason of its similarity to the name associated with the applicant in which he claims goodwill, would be likely to be the subject of a direction under section 67 (power of Secretary of State to direct change of name), or to give rise to a further application under section 69. ↩