SNC Lavalin Banned From World Bank Projects For 10 Years

Law360, New York (April 18, 2013, 4:41 PM EDT) -- A unit of Canadian construction giant SNC Lavalin Group Inc. has been debarred from bidding on World Bank Group projects for a decade as part of a settlement over allegations that the company bribed Bangladeshi officials, the parties announced Wednesday.

SNC-Lavalin Inc., which accounts for about 60 percent of the group's business, and its affiliates have agreed to be suspended from bidding on World Bank-financed projects after a probe into the company's alleged bribing of officials in relation to the Padma Multipurpose Bridge Project in Bangladesh....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.