Corruption, Crime & Compliance: Deep Dive into The Gunvor FCPA Settlement
WorldSmart: More of Ecuador in the World — Considerations for Modern Fair Trade Agreements
On May 9, a company incorporated in the Netherlands, CW Travel Holdings NV, succeeded in the Constitutional Court of Ecuador, arguing that lower courts in Ecuador violated Ecuador's constitution by refusing to consider CW...more
INTERPOL’s Commission for the Control of INTERPOL’s Files(CCF) has finished its second session of the year, and the remaining dates of its sessions in 2024 are posted on its website. The remaining sessions are listed on...more
Former Comptroller of Ecuador Convicted in International Bribery and Money Laundering Scheme - On April 24, a Miami jury convicted Carlos Ramon Polit Faggioni, the former Comptroller General of Ecuador, for his role in an...more
You have to give the Justice Department credit: after two slow enforcement years, DOJ is starting off 2024 with a relative “bang;” First, DOJ reached a large settlement with SAP in January, and now, DOJ has reached a...more
We continue our exploration of the resolution of the FCPA enforcement action involving the Swiss trading firm Gunvor S.A. The enforcement action came in with a $661 million penalty against the company, which has pleaded...more
As I always say, the factual underpinnings of every FCPA enforcement action provides important insights into bribery schemes. At the core of every scheme is the misappropriation of money from the company coffers for improper...more
DOJ announced two recent FCPA settlements with U.K. based reinsurance brokers involving a long-running bribery scheme involving two Ecuadoran state-owned insurance companies. While DOJ has had a slow year in FCPA...more
On October 25, 2023, the American Shrimp Processors Association ("Petitioners") filed an antidumping duty ("ADD") petition on imports of frozen warmwater shrimp from Ecuador and Indonesia, and a countervailing duty ("CVD")...more
On October 25, 2023, the American Shrimp Processors Association (APSA) filed antidumping duty (AD) petitions on frozen warmwater shrimp from Ecuador and Indonesia, and countervailing duty (CVD) petitions on the same product...more
Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption developments from the past month, with links to...more
1. GENERAL INTRODUCTION: In Ecuador, foreign individuals or corporations in general are permitted by law to invest, except in the so called “strategic sectors of the economy”: electricity, water and sewage, highways,...more
In this WorldSmart podcast, Ecuadorian politician and diplomat Ivonne Baki joins Hunter Carter and Malcolm McNeil to discuss women in politics, fair trade agreements with Ecuador, and the art of diplomacy. Highlights of the...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ECUADOREAN LAW - I. STANDARD FORMS OF AGREEMENTS - A. Offer to Purchase sets forth Buyer’s offer of price, date for closing, contingencies for inspections, financing etc....more
On November 18-19, 2021, the Republic of Ecuador is hosting "Ecuador, Open for Business 2021", a two day global investment forum with the participation of the President, Ministers, and Representatives of the Inter American...more
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more
Raymond Kohut, a 68-year old Canadian citizen, a former employee of Swiss commodities trader, Gunvor Group, Ltd., pleaded guilty to paying $22 million in bribes to Ecuadoran government officials at state-owned oil company,...more
[author: Ximena Bustamante] En países con una tradición jurídica continental europea, resulta muy poco común que las instituciones del Estado se sometan a procedimientos de mediación. Y aún si lo hacen, es poco probable...more
[author: Ximena Bustamante] In countries with a continental European legal tradition, it is very rare for State institutions to undergo mediation procedures. And even if they do, it is highly unlikely that they would reach...more
As 2020 drew to a close, enforcement authorities throughout the United States and the Americas continued to investigate fraud, corruption, and other misconduct across the region. Below, we highlight some developments from...more
The Justice Department continues to produce FCPA resolutions in a record year for enforcement. The latest, and perhaps the beginning of several end-of-year and end of the Trump Administration resolutions, is DOJ’s settlement...more
The Ecuadorian Ministry of Energy and Non-renewable Resources (“the Ministry”) recently announced a tender process for the Administration, Operation, Repair, Fuel and Emissions Quality Improvement, and Construction of a...more
A federal grand jury in the Eastern District of New York returned an indictment against Javier Aguilar, an oil trader at Vitol, an energy and commodity trading company, for his role in a five-year international bribery and...more
The Labor Justice Act (Ley de Justicia Laboral) published in the Statutes at Large, has introduced unfair dismissal protection for pregnant women as well as for women who are union leaders....more