IRAN SANCTIONS BREACH SUSPICION PROMPTS GERMAN BANK TO SEEK SEIZURE OF CHINESE-OWNED SHIPS

Hellenic Shipping News on 6th August reported on a case before the High Court in Singapore in which Hanover-based Norddeutsche Landesbank-Girozentrale (NordLB) is seeking the arrest of vessels, accusing their China-based owner of defaulting on a $30 million mortgage agreement.  Lloyd’s List had reported that 2 of the ships appeared to have transported Iranian liquefied petroleum gas in breach of US sanctions.  The tankers, together with a third ship, had been used as collateral for a $30 million loan NordLB made in July 2018 to 3 Chinese-based companies.  The 2 tankers were detained in Singapore in July but subsequently released.

https://www.hellenicshippingnews.com/iran-sanctions-breach-suspicion-prompts-bank-to-seize-ships/

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OECD REPORT HIGHLIGHTS USE OF NON-TRIAL RESOLUTIONS TO COMBAT FOREIGN BRIBERY CASES

Davies Ward Phillips & Vineberg in Canada published an article on 11th April about the OECD report: Resolving Foreign Bribery Cases with Non-trial Resolutions.  The report is said to have noted that non-trial resolution mechanisms have become the primary means of enforcement of anti-foreign-bribery laws for parties to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions – in as many as 96% of cases in the US.  The report also mentioned increased internal co-operation and information exchange, and the growing number of countries that have adopted or are considering adopting deferred prosecution agreement regimes.

https://www.dwpv.com/en/Insights/Publications/2019/OECD-Report-Highlights-Use-of-Non-Trial-Resolutions-to-Combat-Foreign-Bribery-Cases

 

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y