Category: Export Credit

Bombardier Transportation accused of corruption in South Korea

Canadian aerospace giant Bombardier accused by South Korean prosecutors of making gifts to local officials in relation to a multibillion dollar metro elevated train project described as “more like a bus” in reality, a bus expected to cost Yongin taxpayers $3.5 billion over the next 30 years, including maintenance. CBC reports.

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.”