Category: Export Credit

Ottawa’s promised changes to federal integrity rules gives SNC Lavalin a boost

Things are looking less sour for graft-tainted engineering giant SNC-Lavalin, which received a boost Monday when an analyst upgraded his rating and price estimate for the company’s stock following changes to the federal government’s procurement policy, announced in last week’s budget.

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Indian high court splits trial charge sheet in SNC-Lavalin graft case

(June 27, 2013) The Kerala High Court has directed India’s Central Bureau of Investigation (CBI) to divide the SNC-Lavalin trial charge sheet so the trial can begin. Two of the nine accused, SNC-Lavalin VP Klaus Triendl and SNC-Lavalin itself, have failed to appear in court despite several summons. According to press reports, Indian authorities are now seeking the extradition of Mr. Triendl, but Canada’s Department of Justice won’t confirm or deny the existence of the extradition request “due to the confidential nature of state-to-state communications.”