Halliburton's Hidden Treuhand
by: Shelley Stark, t r u t h o u t
Halliburton takes advantage of a European loophole that lets corporations hide beneficiaries and assets.
Little is known of a customary European legal practice that offers corporations and individuals an opportunity to profit from assets while maintaining complete anonymity of the beneficiary's identity. This practice is referred to as "Hidden Treuhand" in the English language. The practice of Hidden Treuhand submits to legal local customs in Austria, Germany, Liechtenstein, Luxemburg and Switzerland, but due to globalization, has moved beyond European borders via corporations and individuals, who put it to personal use...........
...........Given these attributes, it is alarming when a Hidden Treuhand is discovered in a subsidiary that is fully owned by Halliburton USA. Halliburton's Hidden Treuhand is evident in the firm's corporate records. Halliburton International GmbH was created in Austria in June of 1992, although another subsidiary, at the same address, was in existence in Austria since 1958. The new subsidiary, Halliburton International GmbH, has no apparent reasons for existing other than to house a Hidden Treuhand in its corporate structure, receive dividends from other subsidiaries and acquire other subsidiaries. This firm has no employees. It creates no income. Another company, Halliburton Company Austria GmbH, at the same address, could have equally performed whatever function this subsidiary has, but it has no Hidden Treuhand. The obvious conclusion is Halliburton USA needed a subsidiary with a Hidden Treuhand.........
2 comments:
Makes me want to laugh, in a sick dark manner, and grab my kids and leave the country. God help us if McCain wins or Obama doesn't change this way of doing things.
this will always happen in one way or another. obama will not make miracles happen. BUT he WILL be a kazillion times better than what we have OR his opposition
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