International financial institutions, like the World Bank, play an increasingly important role in confronting companies and individuals who revert to unethical and unlawful conduct to gain a competitive advantage in the marketplace.… Continue Reading
Kellogg Brown & Root LLC, Technip S.A., and JGC Corp. agreed to pay $17 million in penalties in a settlement with the African Development Bank (ADB) for corrupt practices by affiliated companies in connection with contracts for liquefied natural gas production plants on Bonny Island, Nigeria from 1995 until 2004.… Continue Reading
The Asian Development Bank debarred 34 individuals last year, and 31 firms. Debarment means they’re ineligible to participate in ADB-financed, administered, or supported activities.
The ADB also cross debarred 37 firms and 12 individuals under mutual debarment agreements with the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the World Bank.… Continue Reading