They\u00a0provide a peek into some of the financial transactions used to generate a private income for the Queen in the kind of detail that is rarely if ever made\u00a0public \u2014 certainly not in the Duchy’s or royal spending accounts available online.<\/p>\n
The documents also made it possible to establish that\u00a0the Queen, through her Duchy holdings, came to acquire in 2007 an indirect stake in a now-defunct British chain of liquor\u00a0stores and that rent-to-own company, called BrightHouse.<\/p>\n
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The Duchy of Lancaster, which has its headquarters in London, manages the monarch\u2019s private estate to generate the Queen\u2019s income. (Jared Thomas\/CBC)<\/p>\n<\/div>\n
One of the funds in question, Dover Street VI Cayman Fund LP, invested in a private equity company that had acquired BrightHouse. The British chain of 270 stores\u00a0sells household goods at low weekly fees\u00a0but \u2014\u00a0over the long term\u00a0\u2014 sky-high interest rates.\u00a0The ultimate result is that customers end up paying many times more than the original price of a household item.<\/p>\n
BrightHouse has long countered criticism of this practice by saying it helps people on low incomes\u00a0acquire items they couldn’t otherwise afford. But just two weeks ago, the British Financial Conduct Authority ruled BrightHouse had not acted as a “responsible lender” and ordered it to pay millions of pounds to thousands of customers.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Private estate held indirect stake in U.K chain of 270 stores that sell household goods at low weekly fees By\u00a0Nahlah Ayed,\u00a0 CBC News:\u00a0Nov 05, 2017\u00a0 Documents show Queen Elizabeth \u2014 through investments made by the monarch\u2019s private estate, the Duchy of Lancaster \u2014 has held stakes in funds that operate in tax-free havens. (Facunco Arrizabalaga\/EPA) […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[49],"tags":[],"class_list":["post-1801","post","type-post","status-publish","format-standard","hentry","category-world","entry"],"yoast_head":"\n
Queen's estate 'not aware' it held indirect offshore investment in stores accused of exploiting poor<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n