This is Appleby’s response to the Paradise Papers:

Appleby has recently received inquiries from the International Consortium of Investigative Journalists and a number of media organisations who are partners of the ICIJ.

These inquiries have arisen from documents that journalists claim to have seen and involve allegations made against our business and the business conducted by some of our clients.

We take any allegation of wrongdoing, implicit or otherwise, extremely seriously. Appleby operates in highly regulated jurisdictions and like all professional organisations in our regions, we are subject to frequent regulatory checks and we are committed to achieving the high standards set by our regulators. We are also committed to the highest standards of client service and confidentiality. It is what we stand for. This commitment is unequivocal.

Appleby has thoroughly and vigorously investigated the allegations and we are satisfied that there is no evidence of any wrongdoing, either on the part of ourselves or our clients.

We refute any allegations that may suggest otherwise and we would be happy to cooperate fully with any legitimate and authorised investigation of the allegations by the appropriate and relevant authorities.

We are an offshore law firm that advises clients on legitimate and lawful ways to conduct their business. We do not tolerate illegal behaviour. It is true that we are not infallible. Where we find that mistakes have happened, we act quickly to put things right and we make the necessary notifications to the relevant authorities.

Having researched the ICIJ’s allegations, we believe they are unfounded and based on a lack of understanding of the legitimate and lawful structures used in the offshore sector.

• Appleby’s statement has been edited for length and clarity