![\"panama](\"http:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2016\/05\/panama-papers-642x453.jpg\")
<\/p>\n<\/p>\n
The just released Panama Papers have revealed that the Government of Dominica was a shareholder of the Shangri-La International Development Holding Limited.<\/p>\n
The Panama Papers are an unprecedented leak of 11.5 million files from the database of the world\u2019s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained by a German newspaper which shared them with international journalists.\u00a0The documents show the myriad ways in which the rich can exploit secretive offshore tax regimes.<\/p>\n
Other shareholders in the Shangri-La International Development Holding Limited according to the documents, \u00a0include Tsao King Ling based in China; Rich Victory Investment Ltd based in the British Virgin Islands; Shen Tien Chen based in China; Sino Union (Caribbean) Holding Ltd based in Dominica; David King Hsui based in Hong Kong; Lan Tina based in China; among others.<\/p>\n
The company was incorporated in 2004 with jurisdiction in the British Virgin Islands, according to the papers.<\/p>\n
The company and the Government of Dominica were involved in the failed Layou River Hotel Project.<\/p>\n
In a court case between the Government of Dominica and the Shangri-La International Development Holding Limited, at the British Virgin Island\u2019s East Caribbean Supreme Court of Appeal in 2009, a judge ruled that the Government was unconditionally entitled to 51% of the share equity in Shangri La.<\/p>\n
According to court documents, the case was brought by Sino Union, and sought rectification of the registers of members of Shangri-La International Development Holding Limited (Shangri-La). Sino Union owns a forty percent (40%) share in Shangri-La providing them with common ground to apply for rectification under section 43 of the Business Companies Act of 2004. (cited from www.dominica.gov.dm)<\/p>\n
Prime Minister Roosevelt Skerrit told a press conference in March 2010 that a committee would seek to look at the Layou River Project and advise the government as to the way forward for the project<\/p>\n
Meanwhile the Panama Papers have revealed a number of addresses in Dominica used by people from around the world to conduct business.<\/p>\n
The addresses are from diverse places as Morne Prosper, St. Joseph, Bagatelle, Loubiere and Castle Comfort.<\/p>\n
According to the papers, the people are located in diverse places such as China and Russia.<\/p>\n
Below are screenshots of the addresses.<\/p>\n
![\"panama](\"http:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2016\/05\/panama-papers-1-642x1143.jpg\")
![\"panama](\"http:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2016\/05\/panama-papers1-642x1143.jpg\")
![\"panama](\"http:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2016\/05\/panama-papers2-642x1143.jpg\")
![\"panama](\"http:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2016\/05\/panama-papers3-642x1143.jpg\")
![\"panama](\"http:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2016\/05\/panama-papers4-642x1143.jpg\")
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