Sunday, October 25, 2020

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Airbus: The French Perspective

A special 5-part podcast series on FCPA Compliance Report considers the Airbus international anti-corruption enforcement action from a variety of perspectives, from some of the top world’s top compliance practitioners and commentators on compliance. In this 14-minute episode, Cecilia Fellouse-Guenkel, Secretary General of the Circle of Compliance, discusses what the Airbus enforcement means for compliance […]
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In Foreign Corruption Cases, Transparency Creates Accountability

Aaron Sayne and Melanie D. Reed of the Natural Resource Governance Institute note that the $4.5 billion 1MDB corruption scandal has had considerable fallout over the past four years, and argue that this has been a consequence of the Department of Justice’s release of a 251-page civil asset forfeiture complaint relating to it. This document […]
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Amidst Record Fines, Hogan Lovells Reveals Trends to Watch in 2020

Hogan Lovells has published its annual Global Bribery and Corruption Outlook, exploring the global trends in anti-bribery and corruption regulation and enforcement, and outlining  a number of legislative developments and trends to watch out for in 2020. The analysis reveals an uptick in enforcement around the world, and demonstrates that culture and the tone from […]
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Airline Group’s Offices Raided by Colombian Prosecutors

Colombian authorities raided the offices of Avianca Holdings SA as part of a transnational bribery investigation. The airline first disclosed potential bribery law violations in August, saying it was investigating whether employees had provided free tickets and upgrades to public officials, and had notified DOJ and SEC of the investigation, because of their FCPA jurisdiction. […]
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Flavor Company Says Subsidiary Managers Knew About Improper Payments

New York-based International Flavors & Fragrances Inc. has confirmed that senior managers in its Israeli subsidiary Frutarom Industries Ltd. knew about improper payments in Ukraine and Russia. The company disclosed the potential bribery in August 2019 and launched an internal investigation, following its acquisition of the company in October 2018. The company said it has […]
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SEC Probes Raytheon Over Potentially Improper Payments

The Securities and Exchange Commission is investigating possible improper payments made by Raytheon and its partners in the Middle East. SEC issued a subpoena seeking information from Raytheon and its joint venture with Thales SA. Regulators are seeking information about payments made in the region by the companies or any intermediaries dating back to 2014. […]
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Corruption and its Effect on Termination Payments: Lessons for LatAm Project Finance Transacctions

The landmark decision in the Ruta del Sol arbitration against the Agencia Nacional de Infraestructura – ANI, the Colombian government agency in charge of awarding concessions through public-private partnerships for the design, construction, maintenance, operation and administration of transport infrastructure in Colombia, addresses the key issue of whether governments must honor termination payments when the award […]
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AirAsia denies corruption in Airbus order as Malaysia probes bribe claims

Malaysia’s anti-graft agency is investigating allegations by Britain’s Serious Fraud Office that Airbus paid a bribe of US$50 million to win plane orders from AirAsia Group and its long-haul arm, AirAsia X. The allegations concern a 2012 sponsorship agreement between the now-defunct Caterham Formula 1 racing team founded by AirAsia boss Tony Fernandes, and Airbus’s […]
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Colombia’s Avianca Embroiled in Airbus Bribery Scandal

An executive of Colombia’s largest airliner Avianca sought at least $4 million in bribes to secure the purchase of 100 so-called A320neo aircraft from Airbus in April 2015, according to the French anti-corruption agency AFA. The purchase was hailed at the time as “the largest single order ever made in Latin America’s aviation history.” Airbus […]
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Sri Lanka to Probe Aircraft Deal After Airbus Corruption Settlement

Sri Lanka’s president has ordered a fresh investigation into a multi-billion dollar aircraft purchase involving the country’s loss-making national carrier, after Airbus agreed to a $4 billion settlement with France, the United Kingdom, and the United States to settle corruption cases sparked by suspicious equipment sales. One of the allegations accused Airbus of failing to […]
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