Private Equity Headquarters Under Lock Down in London July 17

On the Global Day of Action against Private Equity, 50 people collectively delivered a giant invoice to Kohlberg, Kravis Roberts's (KKR) headquarters in London.

beginning of demo at Trafalgar Square

opening speech from our MC

outside KKR's headquarters, with people looking down from balcony

the giant invoice

we invoice KKR for £225 million in unpaid taxes

On the Global Day of Action against Private Equity, 50 people collectively delivered a giant invoice to Kohlberg, Kravis Roberts's (KKR) headquarters in London. The action was organised by the Private Equity Creative Action Network (PECAN) and began with a march to the tune of the Beatles's "The Taxman" and Pink Floyd's "Money" from Trafalgar Square to the KKR's headquarters. The group carried a giant invoice to KKR from the £225 million owed to the UK government in unpaid taxes from their purchase of Boots, the pharmacy chain. There were giant golden number-shaped balloons and props representing schools, houses and trees: the 'public goods and services' that £225 million would have paid for. The 4 metre long invoice was unveiled outside the KKR headquarters (a unobtrusive but sinister building near Buckingham Palace which also houses the headquarters of arms dealer BAE Systems). The activists demanded that KKR's executives come out of the building and receive it. A group of ten KKR representatives in suits stood in the lobby, behind locked doors and police, watching the group. Finally, two KKR representatives came outside and received their invoice from the British public. However, as of yet KKR has not yet made payment. PECAN will continue actions against Private Equity firms and the wide ranging effects of their buy-outs.

PECAN Collective
e-mail: privateequitysucks@googlemail.com
Homepage: http://www.privateequitysucks.com

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Statutory Interest Charges

19.07.2008 03:43

Will they be getting charged statutory Interest for non payment after 28 days? It would reflect how much their debt it "worth":

I assumed that the payment became due on the first of this year and the late interest charge came out as

"You are entitled to charge £16,643,835.62 in interest under the Late Payment of Commercial Debts [Interest] Act 1998 as amended and supplemented by the Late Payment of Commercial Debts Regulations 2002"

Dividing that by the population gives everybody 28p. Not a lot, but it is a subsidy to a Private Business.

Just a thought

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Private Equity Headquarters Under Lock Down in London July 17

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Statutory Interest Charges

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