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British lawmakers are seeking investigations into UK-registered companies that may be linked to the Beirut blasts | Instant News

LONDON (Reuters) – Two senior UK lawmakers on Friday called for an investigation into a UK-listed company that may be linked to last year’s devastating explosion in Beirut after Reuters found it had not disclosed its beneficial owners.

FILE PHOTOS: Still images taken from drone footage show damage two days after the explosion in the port area of ​​Beirut, Lebanon August 6, 2020. Reuters TV / via REUTERS / File Photo

The company, Savaro Ltd, is registered at a London address, and like all British companies are required to list their owners with a British company register, known as Companies House.

In an email to Reuters this week, the woman registered as owner and sole director of Savaro at Companies House, Marina Psyllou, told Reuters she was acting as an agent on behalf of another beneficial owner, whose identities she could not reveal.

“People who have been and have always been the UBO (the main beneficial owner) of the company are always the same. Please note, we cannot say his name, “he said. He didn’t say why he couldn’t reveal his identity.

Global corporate governance rules define UBO as someone who receives benefits from entity transactions, usually owning at least 25% of his capital.

Margaret Hodge, a British lawmaker and former cabinet minister who headed the parliament’s public affairs committee from 2010-2015, called the apparent failure to list Savaro’s main beneficiaries in Companies House “outrageous”.

“The British authorities should investigate this, given that inaccurate information appears to have been submitted. We need to challenge the formation agents who appear to have acted inappropriately. “

John Mann, a member of the British House of Lords who has investigated the use of UK-registered companies in illicit activities, said the case showed the need for stronger enforcement of UK company disclosure rules.

“It is shocking and very damaging to the UK’s reputation that Companies House and our national company registration system could easily be exploited,” he said.

Psyllou, which provides company registration for clients through her own Cyprus company Interstatus, said in a follow-up email to Reuters on Thursday that her company “strictly complies with the law and reports to relevant regulators”.

He also denied this week that Savaro may be linked to the Lebanon explosion, saying he believes the company has never done any business: “As far as we are concerned, the company, since its registration, has remained inactive with no trade or other activity. or keep any bank account because the project on which it was founded never materialized. “He did not provide further information on the company’s intended purpose.


A Reuters investigation last year of the blast in Beirut that killed 200 people found that a large shipment of ammonium nitrate fertilizer that exploded in Lebanon had been held in Beirut on its way to Mozambique. The Mozambican buyer FEM identifies the company it bought it from as Savaro.

The Lebanese source said the fertilizer sales contract identified Savaro Ltd, and registered it at a London address where it was then registered with British authorities.

Tracking shipments could ultimately depend on revealing who stands behind Savaro, said Ben Cowdock, who is investigating international corruption for Transparency International in London.

Under a change to the law in 2016 – introduced as part of an anti-corruption campaign by Prime Minister David Cameron – it should be an immediate matter of seeking information with Companies House, Cowdock added.

The Psyllou Interstatus company has been registered since 2006 as company secretary for Savaro, is responsible for meeting its reporting requirements, and other Interstatus companies were originally registered as owners of Savaro.

In July 2016, three months after a Cameron-era rule change requiring companies to register their beneficial owners, Savaro updated his records to identify Psyllou himself as the owner.

MPs Hodge and Mann both asked the UK business ministry to investigate what they said appeared to be a breach of disclosure rules. The business ministry declined to comment, saying it does not discuss individual companies.

Additional reporting by Lisa Barrington in Dubai, Ellen Francis in Beirut and Maria Tsvetkova in Moscow; Edited by Peter Graff


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Why Georgian Fashion Is One Of The New Global Trends | Instant News

While keeping my distance socially, I have time to reflect on the fashion map that I have discussed for years. One thing that really stands out. Tbilisi, Georgia. It makes me wonder how much media is needed to crown a place that will be the Capital of Fashion forever ?! In 2016 the press first stated Tbilisi “Maybe it’s the capital of Eastern European fashion” Since that New York time put the focus of his style on Georgia, ELLE the magazine gave Georgia 360 degree editorial, and High snobeity suggest Tbilisi is “next hotspot mode“, Yahoo! found “why the fashion industry loves Tbilisi“, Marie Claire “Confirm” Tbilisi as “one of the most fashionable cities in the world“and so on. Can we move beyond new expectations and fully embrace the Georgian fashion world as one of the global trendsetters ?!

Because the industry experienced an unprecedented event cancellation, I looked back at my records from last season Mercedes-Benz Fashion Week Tbilisi. Photographer Adam Katz Sinding book signing for This Is Not A F * cking Street Style Book. He has started outside the venue on the outskirts of the industry and now shooting for Givenchy, Tom Ford and Raf Simmons. Pitti Tutoring brought Lee Wood, Creative Director at Dirk Bikkembergs, for a conversation about having a niche in a cruel market.

MORE THAN FORBESStreet Style According to Le 21ème by Adam Katz Sinding

Documentary film that provokes thoughts Intersex Army and In this climate by humanitarian filmmakers Tomas Auksas filtered out. Sexual liberation and climate change: two natural forces collide under Georgia’s sky. Such programs will “work” anywhere in the world. Tbilisi is a top level platform Mode call “a kind of incubator for designers to come. “ Besides Demna Gvasalia, another global runaway star is George Keburia, whose micro-sun glasses have become a staple for celebrities.

Here are 12 other Georgian designers worth visiting, in no particular order:

Recently Business Mode The profile might have answered the question: “Who Really Drives Georgian Mode? Not Demna.“The iconic figure behind the industry on the verge of Arrival is Sofia Tchkonia. Another thing the world has learned through the coronavirus challenge is that so far the countries with the best official responses to a pandemic have only one thing in common: women’s leadership. This made me believe that Georgian fashion had a sustainable vision for itself and the industry in general.

For now, I will return to social distance and read “A Woman for Two Countries“This is a decades-old memoir in international diplomacy by Salome Zourabichvili, the first woman to lead Georgia as its President. I can’t wait to see everyone in Tbilisi again!


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