Papers reveal BCd battle

THE Pandora Papers, a leak of financial information from scores of international tax havens, have given a unique insight into a tussle within the family of the owners of corporate travel behemoth BCD Travel.

Dutch newspapers Trouw and Het Financieele Dagblad have delved into the documents which indicate disagreements between BCD founder John Fentener van Vlissingen and his son Robert-Jan.

Robert-Jan owns a third of the shares in the company, but control resides with his father and it appears this has led to significant dissatisfaction, with the son not able to vote on key decisions including distribution of profits to shareholders.

It also appears that Fentener van Vlissingen senior is frustrated that his son “repeatedly refuses to cooperate with requests from financial institutions to provide his passport and address details as a co-owner of the company,” the report says.

A spokesperson for BCD assuaged concerns about the rift, saying “BCD Group naturally adheres to applicable laws and regulations,” with the management of the company structured in such a way that BCD’s future “can never be endangered by a difference of opinion”.

meanWhile BCD Travel has also expanded its links into the Spanish market, through a strengthened partnership agreement with Spain’s leading travel group Avoris, which merged with Globalia earlier this year (TD 07 May).

Avoris also represents BCD Meetings and Events in Spain, and works closely with BCD Sports and BCD Media & Entertainment.