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Jack_www
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I hope this ends up in Court in California and France in the end up paying billions of dollars to the US.
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DanS
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Kickball Capital of the World
Jan 1970
time: 00:32
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quote:
Is not bribery forbidden by US laws? |
Indeed it is. This type would fall under the Foreign Corrupt Practices Act.
quote:
Am I wrong in supposing that such an accusation could weaken the Bush/Cheney ticket? |
Tough to know. Depends on how good the case was perceived to be. Would this be an actual indictment (or the French equivalent) of Cheney or an indictment of the subsidiary?
Last edited by DanS on 05-12-2003 at 00:59
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DanS
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Kickball Capital of the World
Jan 1970
time: 00:32
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quote:
I suppose attacking Cheney is the best thing to do now. When Cheney will become eligible for a round in prison, I'm sure both the Elysée and the White House will surprisingly understand each other very well. |
I doubt that's the case. Mostly, these criminal prosecutions are run and overseen by career prosecutors at Justice. Once the trigger is pulled on a criminal lawsuit, it's tough or impossible to go back. Doesn't matter what the French do to Cheney.
I think France is misreading the strength of its position and is getting itself into a pickle. As the evidence firmed up, that's when the US demands became progressively larger. It's not tough to do a back of the envelope probability of award x award amount calculation...
Last edited by DanS on 06-12-2003 at 03:35
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Tripledoc
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And while we are at I do sincerely hope that TDC, in which SBC has 47 percent shares, will get *****-slapped by the Danish tax inspectors to pay up for what they cheated on in their tax. That is one Billion dollars right here. Of course SBC, formerly Ameritech, has never been accused of honesty.
Ameritech
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DanS
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Kickball Capital of the World
Jan 1970
time: 00:32
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Of course SBC, formerly Ameritech, has never been accused of honesty. |
I don't know how you can *****, when SBC doesn't even control the company. And when was it accused of dishonesty?
Last edited by DanS on 06-12-2003 at 04:09
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Tripledoc
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quote:
Originally posted by DanS
What's your point? Do you really have anything to add to this discussion? |
Well I thought this thread is the place were you can gloat over various victories on the battlefield of the 'market'.
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DanS
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Kickball Capital of the World
Jan 1970
time: 00:32
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Looks like a deal is back on in this affair.
quote:
French PM set to unveil Executive Life deal
Martin Arnold and Jo Johnson in Paris
Published: December 11 2003 10:21 | Last Updated: December 11 2003 10:21
Jean-Pierre Raffarin, French prime minister, is expected to announce on Thursday that France has reached a preliminary $770m (€633m) deal to settle the Executive Life affair with Californian prosecutors.
The settlement would bring a last-minute resolution to a five-year legal dispute that has developed into a major source of Franco-US tension, requiring diplomatic interventions at the highest level on both sides of the Atlantic.
The agreement, reached late on Wednesday night, includes François Pinault, one of France's richest businessmen, who has agreed to pay $185m without admission of guilt to settle charges against his Artémis family holding company.
Crédit Lyonnais will pay $100m, while the Consortium de Réalisation - the "bad bank" set up to take over Lyonnais' liabilities in 1994 - will pay about $475m, with both admitting some guilt on technical issues of disclosure. The remaining $10m will come from Maaf, the French insurer.
The deal is likely to avert the Californian prosecutor's threat to call on a jury this week to hear criminal charges, ranging from fraud to perjury and money laundering, against some of France's most powerful business interests.
President Jacques Chirac, who intervened to block a previous settlement that excluded Mr Pinault, is expected to agree to the last-ditch deal as it fulfils his requirement for "a global deal covering all parties".
Jean Peyrelevade, who resigned as chairman of Lyonnais to defend himself against the Executive Life charges, is under pressure to agree some level of guilt, something he has so far steadfastly refused to accept.
The origins of the affair lie in Lyonnais's 1991 acquisition of Executive Life, a failed life insurer. The purchase is alleged to have breached a now-repealed federal law against banks owning insurers.
The French government is involved because Lyonnais was then a state-owned company. It was privatised in 1999 and then the subject of a €19.5bn takeover from Credit Agricole last year. The bank had risked losing its US licence if no deal was reached.
The affair has become a hot political issue for Mr Chirac in France. The Socialist opposition has called for a parliamentary inquiry into the affair. It has accused Mr Chirac of putting his personal friendship with Mr Pinault, the retail magnate at the centre of the scandal, ahead of taxpayers' interests. |
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04-12-2003 22:50
), there are rumors that the French are building a case against **** Cheney for minor offences committed when he was President of an Halliburton subsidiary, associated with Technip and two other companies in a consortium building a plant in Nigeria.
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