Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
By Marcus Cohen, David Elesinmogun & Obumneme Egwuatu
The penalty for paying bribes in Nigeria may increase following demands from a Nigerian NGO that the Nigerian government seek its share of the recent anti-graft bounty. … Continue Reading
Logistics company Panalpina was named, along with its customers Shell, Transocean, Pride, Tidewater, Noble, and GlobalSantaFe.… Continue Reading
By Jeffrey M. Kaplan
Since 1991 –- even prior to the Sentencing Guidelines going into effect -– Justice Department officials have said corporate charging decisions should be based in part on how effective a corporation’s compliance program was at the time of the offense in question.… Continue Reading
Making history today for the most companies to simultaneously settle FCPA-related violations, Global logistics firm Panalpina and five of its oil-and-gas services customers resolved charges with the DOJ and SEC, and another customer settled with the SEC only.… Continue Reading
Tidewater Inc., one of about a dozen oil-and-gas-services companies dragged into FCPA compliance problems a few years ago by Swiss logistics giant Panalpina, said in its latest annual report that it expects a settlement soon with the SEC and possibly the DOJ.… Continue Reading
Swiss logistics giant Panalpina said yesterday it has reserved about $110 million for an expected FCPA settlement with the Justice Department and Securities and Exchange Commission and a seperate antitrust resolution.… Continue Reading
Aibel Group Ltd. of the United Kingdom pleaded guilty yesterday to violating the antibribery provisions of the Foreign Corrupt Practices Act and failing to comply with the terms of its prior deferred prosecution agreement.… Continue Reading
Compliance concerns have forced Swiss logistics giant Panalpina to withdraw completely from the Nigerian domestic market. It said in its 2008 half-yearly report (available here) that it will sell its local operations to a Nigerian group and retain no ownership or operating interest.… Continue Reading
In its Annual Report and Form 20-F for the year ended December 31, 2007, Royal Dutch Shell plc includes a Foreign Corrupt Practices Act disclosure. It relates to the Department of Justice’s ongoing investigation of Panalpina.… Continue Reading
Panalpina’s cooperation with the U.S. Department of Justice appears to be in full swing. For starters, it is exiting the Nigeria logistics and freight forwarding market for all oil and gas services customers, at least a dozen of which have been contacted by the DOJ about Panalpina’s customs clearance practices in Nigeria and other countries.… Continue Reading
A Reuters report from August 26, 2007 quotes Noble Corporation as saying it has been unable to obtain or renew permits for five of its seven drilling rigs operating in Nigeria due to the FCPA investigation of operations there.… Continue Reading
