Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/legal_Court/saipem-contracting-algrie-court-orders-fine-of-340.shtmlSaipem Contracting Algérie: court orders fine of €34,000
The Court of Algiers has passed sentence in the first instance of the “Sonatrach 1” trial involving Saipem Contracting Algérie, a Saipem Group company registered in Algeria,
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The Court of Algiers has passed sentence in the first instance of the “Sonatrach 1” trial involving Saipem Contracting Algérie, a Saipem Group company registered in Algeria, in relation to the bid procedure for the award in 2009 of the GK3 contract. Specifically, the Court:
- ordered Saipem Contracting Algérie to pay a fine equivalent to approximately €34,000 for allegedly “inflating prices on contracts awarded by a public company engaged in industrial and commercial activities, taking advantage of the authority or influence of representatives of said company”, an offence punishable under Algerian law; and
