I would have thought the complex offshore corporate structure was for the purposes of tax avoidance; keeping losses off the balance sheet would be a lucky bonus.

Beastrabban\'s Weblog

This is from the Eye’s edition for 22nd March – 4th April 2013.

NHS PLC

Broken Circle

Worrying symptoms of Enron-it is have broken out at groovy health company Circle Health which, in partnership with its staff, runs NHS facilities and a group of private hospitals.

Circle’s parent company, Circle Holdings plc, is owned largely by hedge funds, including Crispin Odey’s Odey Asset Management and Sir Paul Ruddock’s Lansdowne Partners, plu8s the offshore trusts of founder and ex-Goldman Sachs banker Ali Parsa. As 51 percent controller of the Circle Health group that now runs Hinchingbrooke NHS hospital trust in Cambridgeshire, as well as the Nottingham NHS treatment centre, it might be hoped that the company’s financial position is above board and fully understood.

Alas, corporate transparency is in even shorter supply than profits at the struggling firm, especially when it comes to financing what it describes as its “flagship” private…

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