Thursday, January 12, 2012

#McCann #HUSH Fund:"Special Resolution": Amendments to the Articles of Madeleine's Fund Leaving No Stone Unturned Limited

This 24-pages document was filed on December 21, 2011 at the Companies House. Pages 1 to 11 have a similar text and the signatures of the current directors [except Edward Smethurst's signature] approving a “Special Resolution” (sic). From page 12 to 24 follow the amended articles of the “Foundation” (sic), that is, of Madeleine's Fund Leaving No Stone Unturned Limited.

On January 8, 2012 the private limited company full accounts [up to March 31, 2011 - without Kate McCann's book royalties & book deals] were made available at the Companies house, the stamp on the  first page indicates they were filed on December 30, 2011.

Since yesterday several UK newspapers have been reporting spinning on the Fund “dwindling donations”, seemingly oblivious of the amendments to the Articles of the company and despite their obvious significance; adjustments which effectively ensure the McCann couple & associates will now have a quasi “carte-blanche” regarding the use of the Fund's donations.

Amendment to the “Amendments”: It seems almost all of the Articles listed bellow give an identical level of financial control over the fund's assets and have been present in the Company's statutes since its  incorporation date on May 15, 2007.

The most interesting change is the complete removal from the Fund's objects of an article that has appeared in all the Accounts(including in the latest) and Articles for the years of 2007, 2008, 2009, 2010 & 2011 - “To provide support, including financial assistance, to Madeleine's family”.

Which raises at least one question: “What happened around November 29, 2011 that made the fund directors circulate an amendment to remove that article in particular?” Is it a mere case of excluding a superfluous article or could there be something else behind this modification? more