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Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs
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Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs

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A review for the due diligence on and management of third party business relationships.

A review for the due diligence on and management of third party business relationships.

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  • 1. William Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs Histories as the Guide To The Road Ahead Thomas Fox IQPC-International Compliance and Ethics in Oil & Gas 2009 London-March 30 and 31, 2009
  • 2. Legal Disclaimer The views stated herein are solely those of the author.
  • 3. For Want of a Nail the Shoe was Lost For Want of a Shoe the Horse was Lost For Want of a Horse the Battle was Lost For Want of a Battle the Kingdom was Lost
  • 4. Romeo and Juliet Agents “For never was a story of more woe / Than this of Juliet and her Romeo” Willbros pays $22MM fine for payment of bribes in Nigeria
  • 5. Hamlet-Distributors “Something is Rotten in Denmark” AGA pays $2MM for improper payments made by independent distributor
  • 6. King Lear and the Fool Joint Ventures “And I'll to bed at noon” Halliburton pays $382 MM on behalf of KBR, which created the TSKJ Joint Venture to fund ‘Consulting Agents’ in Nigeria
  • 7. Macbeth and the Three Witches Freight Forwarders “Fair is foul, and foul is fair” Vetco Gray pays $26MM for 268 separate bribes paid by the Freight Forwarder Panalpina for shipments into Nigeria.
  • 8. Othello and Iago Consultants “I pray you, in your letters, When you shall these unlucky deeds relate” Baker Hughes pays $44MM for payments made to Isle of Man “Consulting Firm” mandated by KazakOil officials
  • 9. The The Play The Tragedy Intermediary Hamlet-something is rotten in Willbros pays $22MM for payment of Agents Denmark bribes in Nigeria Romeo and Juliet-For never was a AGA pays $2MM for improper Distributors story of more woe / Than this of Juliet and her Romeo payments made by independent distributor King Lear-And I'll to bed at noon Halliburton pay $382 MM for KBR Joint Ventures which created the TSKJ Joint Venture to fund “Consulting Agents” in Nigeria; KBR pays $20MM Macbeth-Fair is foul, and foul is fair: Vetco Gray pays $26MM for 268 Freight Hover through the fog and filthy air separate bribes paid by freight forwarders Panalpina in Nigeria. Forwarders Othello-I pray you, in your letters, Baker Hughes pay $44MM for Consultants When you shall these unlucky deeds payments made to Isle of Man “Consulting Firm” mandated by relate Kazak Oil officials
  • 10. Macbeth (Redux) On January 30, 2009, Gerald Hodgkins, Assistant Director of the Division of Enforcement at the SEC, was asked to provide his personal predictions for 2009: • continued high levels of voluntary disclosure of potential FCPA violations by companies; • continued focus on specific industries and industry-wide investigations; • continued imposition of large fines and disgorgement, alongside cases with more modest numbers; • more actions brought against individuals; • continued use of compliance monitors; • and increased international cooperation.
  • 11. Richard II • Risk Based Compliance Opinion Release 08-02 AON Policy
  • 12. Alec Guinness as Richard III • Minimize your Risk and How Much is Enough • US Gov Resources • Other Public Resource • Trace International • DOJ Opinion Release Procedure
  • 13. Henry IV Structure Post-Contract safeguards • Audit Rights and DOJ Opinion 04-02 • Contacts and Reporting
  • 14. Henry V • Joint Ventures or do you really want to go back to France alone 6. Majority Controlled 7. Minority Participation 8. Existing JVs
  • 15. Shakespeare’s London and President Obama Don’t Let the Traffic Rush You

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