So far, only Radio Scotland’s John Beattie has tackled the company, responsible for the infection control failure in the Skye care home where everyone is infected and six, so far, have died. It hasn’t appeared anywhere else across BBC Scotland’s output.
Surely their Disclosure team should be having a go at this? They could make up for their previous ill-informed report where they sided with the big BMW driving manager, of a Lanarkshire care home owned by Florida-based Bluebird Care to then blame the Scottish Government for not supplying PPE to a massive US corporation charging large amounts to care for our elderly.
Reader Glen Munro has helpfully directed me to information on HC-One, owned by a US corporation until 2018 but now registered in the Cayman Islands.
Come on BBC – old folk dying in care homes owned by two giant dodgy corporations? Big audience?
They haven’t so far so here’s some starter information:
Although HC-One has declared a loss in every year except one since its creation in 2011, investors received cash dividends of £42.3m in 2017 and £6.2m in 2018. HC-One has paid no corporation tax in that time, but instead received net tax credits of £6.5m since its reorganisation in 2014. The group’s auditors are infamous offshore tax-avoidance experts Deloitte. HC-One’s structure “means investors and executives are likely to have received much greater sums as only one subsidiary, FC Skyfall Upper Midco Ltd, files consolidated accounts”. Court Cavendish, owned by Dr Chai Patel (90%) and his family trust (10%), has received £25m in management fees.
The company was put up for sale in May 2018 for £1 billion. Its immediate owner is Libra Intermediate, based in Jersey and the ultimate owner is FC Skyfall LP, based in the Cayman Islands. It has a complex corporate structure, with 50 companies, six of which are registered offshore either in the Cayman Islands or Jersey and a further five in the UK as foreign entities. Earnings before interest, tax, depreciation and amortisation were about £130 million in 2017.