Mossack Fonseca to quit Isle of Man

Mossack Fonseca office, Hill Street, Douglas, Isle of Man

Mossack Fonseca office, Hill Street, Douglas, Isle of Man

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The law firm at the centre of the so-called Panama Papers is closing its office in the Isle of Man ‘with great regret.’

Mossack Fonseca & Co (Isle of Man) Limited is based in Hill Street, Douglas.

Clients will still be served, says the Panama-based business.

The business announced: ‘Our offices in Jersey,Isle of Man and Gibraltar will be ceasing operations, but we will continue serving all of our clients.

‘This decision has been taken with great regret, as Mossack Fonseca has had a presence in these locations for more than 20 years.’

It thanked staff for what it describes as ‘loyal and sterling’ service, and adds the closures are a matter of ‘great regret’.

The Hill Street office is a stone’ s throw from Athol Street in the heart of the island’s financial business sector

The announcement came several weeks after the first reports about the Panama Papers emerged, divulging details taken from nearly four decades of records from Mossack Fonseca’s computer archives.

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