British lawmakers seek investigation into UK-registered firm possibly linked to Beirut blast

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Two senior British parliamentarians called on Friday for an investigation into a British-registered company possibly linked to last year's devastating explosion in Beirut, after Reuters found that the firm had not disclosed its beneficial owners.

LONDON - Two senior British parliamentarians called on Friday for an investigation into a British-registered company possibly linked to last year’s devastating explosion in Beirut, after Reuters found that the firm had not disclosed its beneficial owners.

In an e-mail to Reuters this week, the woman listed as Savaro’s owner and sole director at Companies House, Marina Psyllou, told Reuters that she was acting as an agent on behalf of another beneficial owner, whose identity she could not disclose. Margaret Hodge, a British lawmaker and former cabinet minister who headed parliament’s public affairs committee from 2010-2015, called the apparent failure to list Savaro’s ultimate beneficiary at Companies House “outrageous”.

“It is shocking and very damaging to the reputation of the United Kingdom that Companies House and our national system of company registration can be so easily exploited,” he said. A Lebanese source said a sales contract for the fertiliser identified Savaro Ltd, and listed it at the London address where the company was then registered with the UK authorities.

Psyllou’s firm Interstatus has been listed since 2006 as the company secretary for Savaro, responsible for fulfilling its reporting requirements, and another Interstatus company was initially listed as Savaro’s owner.

 

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