INTER-AMERICAN DEVELOPMENT BANK (IDB) HAS DEBARRED A BRAZILIAN CONSTRUCTION COMPANY FOR 3 YEARS FOR COLLUSIVE AND CORRUPT PRACTICES RELATED TO PROJECTS IN BRAZIL

On 22 March, the FCPA Blog reported that Construtora COESA S.A. (formerly known as Construtora OAS S.A.) and 26 of its subsidiaries are ineligible to participate in projects and operations financed by the IDB during the 36-month debarment.  The decision also means the the company is debarred by the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, and the African Development Bank.

https://fcpablog.com/2022/03/21/idb-debars-construction-company-for-corruption-and-collusion-after-460-million-settlement/

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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