Tina Green chose offshore jurisdictions for her companies because they have "strong regulatory regimes"

 
Helen Cahill
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Lady Christina Green, the wife of retail tycoon Sir Philip Green, has responded to MPs inquiring into the doomed sale of BHS.

Lady Green defended her use of the non-UK jurisdictions for her companies, saying these locations had "strong regulatory regimes."

MPs were looking to understand Lady Green's involvement in the complex web of companies that make up the Green family's retail empire.

Lady Green seemed to be confused about why she had been brought into the debate over BHS, writing: "I am aware that there is an established scope to your inquiry on BHS and it was not entirely clear to me how the questions you have asked fall within in."

In her letter, Lady Green listed companies which she is a holding party of, and explained why they were registered in non-UK jurisdictions.

Lady Green wrote: "My understanding is that jurisdictions such as Jersey and the British Virgin Islands are commonly preferred for their strong regulatory regimes and well-respected regulators and the size and competence of their professional communities.

"I believe these factors make them attractive jurisdictions to base holding companies in and accounts for the fact that so many businesses so just that."

Frank Field MP said:

I am not much closer to understanding the complex web of offshore Green companies but I am intrigued to learn that, while the attraction of Monaco is its fine schools, the British Virgin Islands and Jersey are favoured for their robust regulatory regimes.

What is clear, however, is that Lady Green was paid £28 million offshore, in the latest accounting year, for the acquisition of BHS by Taveta.

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