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Foreign Corrupt Practices Act Update: Considerations Around Voluntary Disclosures

GovCon & Trade

Two recently announced Foreign Corrupt Practices Act (FCPA) settlements involving reinsurance companies demonstrate what happens when the rubber hits the road. Jardine Lloyd Thompson Group Holdings Ltd.

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Worley International Services v. Ecuador: The What, When and How in Corruption Allegations

Kluwer Arbitration

On its part, the Respondent raised several objections to the jurisdiction of the Tribunal, specifically pointing to several instances of corrupt and illegal acts allegedly committed by Worley at the making and during the operation of the investment. Worley may have willfully failed to monitor and investigate Tecnazul’s corrupt activities.

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When Is a “Final” Award Truly Final? The Case of Voltas Ltd v York International Pte Ltd

Kluwer Arbitration

Background Facts In 2014, an arbitrator rendered an award, entitled “Final Award”, holding York International Pte Ltd (“York”) liable to Voltas Limited (“Voltas”) for sums amounting “up to a maximum of” SGD 1,132,439.46 (“2014 Award”). In 2020, Voltas sought a further award from the arbitrator on whether this sum was payable.

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SEC Sanctions Global Software Company SAP $100 Million for FCPA Violations

Whistleblower Network News

Securities and Exchange Commission (SEC) announced a $100 million settlement with global software company SAP SE over charges of violations of the Foreign Corrupt Practices Act (FCPA). anti-corruption law that prohibits the payment of anything of value to foreign government officials in order to obtain a business advantage.

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Thanks to Qui Tam Whistleblower, Physician Pays $1.8 Million in False Claims Act Case

Whistleblower Network News

Not only was the whistleblowers’ information key for resolving alleged misuse of Medicare Part B between 2014 and 2017, but they also assisted the settlement of “false claims to Medicare by billing for diagnostic imaging procedures” from 2014 to 2021. These acts went against the Stark Law, or the Physician Self-Referral Law.

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SEC Whistleblower Office Posts Notice for $100 Million FCPA Settlement

Whistleblower Network News

Securities and Exchange Commission (SEC) Office of the Whistleblower posted a Notice of Covered Action (NoCA) for a $100 million settlement with global software company SAP SE over charges of violations of the Foreign Corrupt Practices Act (FCPA). The NoCA signals that the SEC is now accepting whistleblower award claims for the case.

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Annulment Procedure on the Arbitral Awards Involving Long-standing Dispute between Rutas de Lima and Municipalidad de Lima

Kluwer Arbitration

Additionally, the Municipalidad de Lima claimed that Odebrecht had made two payments in 2014 to secure the Bankability Addendum to the contract. It found that neither the contract nor the addendum was void due to the corruption allegations. In 2020, the arbitral tribunal rendered its decision. Moreover, the D.C.