(Compliance Week, Boston, 6 November 2020) The U.K. Serious Fraud Office (SFO) on Thursday confirmed it is investigating plane maker Bombardier over suspected bribery and corruption in relation to contracts and orders from Indonesian airline carrier Garuda Indonesia. According to the...
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(Compliance Week, Boston, 18 February 2020) Export Development Canada (EDC) announced it has completed its independent review of Bombardier’s compliance policies and procedures, concluding there is progress in its ethics and compliance program. EDC initiated the review of Bombardier in 2019...
more(Corporate Jet Investor, London, 21 November 2019) A judge in the UK courts has ruled that the sale of Global 6000 ZS-OAK can now go ahead, after Export Development Canada (EDC) settled its litigation with Westdawn Investments. Westdawn Investments is a South African company that is owned by...
more(Above Ground, Ottawa 29 August 2019) For decades, Export Development Canada (EDC) has been subject to minimal public scrutiny, with media and Parliament rarely asking questions about the social and environmental costs of the business it supports. But recently, with some of the agency’s highest...
more(iPolitics, Ottawa 25 July 2019) Canada’s export credit agency says a third-party investigation has cleared the organization of any wrongdoing in providing a political risk insurance policy to SNC-Lavalin in 2011 for a dam project in Angola. EDC said Thursday a review by international law firm...
more(Globe and Mail, Toronto, 2 July 2019) A federal review of Export Development Canada has exposed serious shortcomings at the Crown corporation, noting its disclosure practices fall far short of other financial institutions, and that the agency is not legally obligated to consider the...
more(Globe and Mail, Toronto, 4 June 2019) Export Development Canada once described itself as the country’s ‘secret trade weapon.’ But The Globe’s review of thousands of transactions reveals a pattern of secrecy and lax supervision. In Latin America, billions of dollars in Canadian government-...
more(Yorkton This Week, Yorkton SK, 15 May 2019) Export Development Canada (EDC), Canada's export credit agency, was created in 1944 to promote Canadian business overseas. It has 12 offices across Canada and 19 regional offices around the world. According to CBC reports SNC Lavelin have borrowed...
more(CBC, Toronto, 3 April 2019) Export Development Canada has hired outside legal counsel to review some of its dealings with SNC-Lavalin. The review comes after a company insider told CBC News the engineering giant secured billions in loans from the Crown agency over the years, some of which he...
more(Globe & Mail, Toronto, 26 March 2019) Senior federal officials sought to warn Canada’s export agency that it had suffered “significant” risk to its reputation because of its US$41-million loan to the controversial Gupta brothers who were at the heart of a South African corruption scandal,...
more(Above Ground, Ottawa, 22 February 2019) Following reports that engineering giant SNC-Lavalin lobbied federal officials intensively in the lead-up to its criminal prosecution on corruption charges, public attention has been brought to the hundreds of millions in government loans the company has...
more(Above Ground, Ottawa, 12 November 2018) Canada’s Export Development Act is under review. In our submission (pdf) to the government...
more(National Observer, Ottawa, 30 April 20188)Canada’s federal auditor general says there are “significant deficiencies” at Export Development Canada when it comes to risk management.The Office of the Auditor General of Canada...
morehttp://aboveground.ngo/bombardier-gupta-accountability-edc/
(Above Ground, Ottawa, 26 March 20188) Ongoing media coverage regarding the sale of a Bombardier jet to the Gupta family in...
more(Globe and Mail, Toronto, 19 February 2018) Canada's export credit agency is worried that a Canadian EDC financed Bombardier luxury jet could become the escape vehicle for the controversial Gupta brothers as they flee a corruption prosecution in South Africa, according to court papers filed by...
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