In 2013, British firm Savaro Limited purchased the ammonium nitrate from Georgian chemicals factory Rustavi Azot. The explosive materials were to be sent to a Mozambican factory, Fabrica de Explosivos de Mozambique (FEM).

Savaro is registered as a chemical trading company in the UK, but is likened to a shell company. It does not have many real employees, very little business proceedings, and has so far refused to disclose its beneficial owners according to a report by Reuters. 

An ultimate beneficial owner, or UBO, is defined as “someone who receives the benefits of an entity’s transactions, typically owning a minimum of 25% of its capital” as stated by Reuters.

The company’s ties to the Beirut blast has sparked outrage amongst British lawmakers and ministers, who have demanded a thorough investigation into the company’s proceedings. 

In an interview with Reuters, Marina Psyllou, who is listed as the company’s sole director and owner, denied having any links to the explosion. She also told the news agency that she acts as an agent on behalf of Savaro’s true owner, whose identity she cannot disclose.

“As far as we know the company in question, ever since its registration it remains dormant without any trading or other activity or keeping any bank accounts as the project for which it was incorporated was never realised,” she told Reuters.

Psyllou is registered as the officer for at least 157 companies, some in the UK and others in Panama, which is said to be a “haven for shell companies” according to a report by Al Jazeera. Additionally, Savaro’s legally registered London address is being used by several other companies.

Psyllou had filed a request to dissolve Savaro, an alarming move considering the worldwide attention Savaro is receiving in its link to the Beirut blast.

Melhem Khalaf, head of the Beirut Bar Association, sent a letter to British MP Margaret Hodge asking her to prevent the liquidation which “would permit an indicted entity to evade justice.”

Following his letter, the United Kingdom’s registrar of companies issued an official decision to stop Savaro’s liquidation process.