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

  Histori...
Legal Disclaimer
The views stated herein
are solely those of the
author.
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 Wan...
Romeo and Juliet
                     Agents

“For never was a story of
more woe / Than this of
Juliet and her Romeo”


Wi...
Hamlet-Distributors

“Something is Rotten in
   Denmark”


AGA pays $2MM for
  improper payments
  made by independent
  d...
King Lear and the Fool
                   Joint Ventures
“And I'll to bed at noon”


Halliburton pays $382 MM
on behalf of...
Macbeth and the Three Witches
       Freight Forwarders
“Fair is foul, and foul is fair”


Vetco Gray pays $26MM
for 268 s...
Othello and Iago
                    Consultants
“I pray you, in your letters,
When you shall these unlucky
deeds relate”
...
The              The Play                                  The Tragedy
Intermediary
                 Hamlet-something is r...
Macbeth (Redux)
On January 30, 2009, Gerald Hodgkins,
Assistant Director of the Division
of Enforcement at the SEC,
was as...
Richard II
• Risk Based Compliance

Opinion Release 08-02

AON Policy
Alec Guinness as Richard III
• Minimize your Risk
 and How Much is Enough

• US Gov Resources
• Other Public Resource
• Tr...
Henry IV
Structure Post-Contract
safeguards

• Audit Rights and
DOJ Opinion 04-02

• Contacts and Reporting
Henry V
•    Joint Ventures
or do you really want
to go back to France
alone

6.   Majority Controlled
7.   Minority Parti...
Shakespeare’s London
 and President Obama




  Don’t Let the Traffic Rush You
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Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs

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A review of the due diligence required for third party business relationship and their management.

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

  1. 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. 2. Legal Disclaimer The views stated herein are solely those of the author.
  3. 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. 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. 5. Hamlet-Distributors “Something is Rotten in Denmark” AGA pays $2MM for improper payments made by independent distributor
  6. 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. 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. 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. 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. 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. 11. Richard II • Risk Based Compliance Opinion Release 08-02 AON Policy
  12. 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. 13. Henry IV Structure Post-Contract safeguards • Audit Rights and DOJ Opinion 04-02 • Contacts and Reporting
  14. 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. 15. Shakespeare’s London and President Obama Don’t Let the Traffic Rush You

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