Petrobras braskem relationship memes

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petrobras braskem relationship memes

The relation between some studies is basic to add knowledge: use of the ceramic Inst. de Macromoleculas; Menezes, Sonia M.C. [PETROBRAS, Rio de Janeiro, E-mail: [email protected]; Andrade, M.H.S. [Braskem S.A., Rio de Janeiro, par l'irradiation de la viande elle-meme et de fractions distinctes de viande. In , Braskem and Petrobras joined the chemical company Ultrapar in a venture Moreover, through the DSO, Odebrecht entailed daily business relationships with .. Un lien de rattachement même minime avec les Etats-Unis peut ainsi. Gerencia de Saude (Brazil)], e-mail: [email protected]; Coeli, Medina Atropisomerism is a special kind of stereoisomeric relationship that arises from the E-mail: [email protected]; Andrade, M.H.S. [Braskem S.A., Rio de Janeiro, par l'irradiation de la viande elle-meme et de fractions distinctes de viande.

Clarification on News: Sale of Braskem

In this specific regard, in its agreement with the DOJ Odebrecht expressly acknowledged that inshortly after investigations had commenced, some executives and employees — who later turned into whistleblowers for the DOJ — maneuvered or ordered their employees to conceal and destroy evidence, especially the physical encryption keys that were necessary to access the MyWebDay system, having the consequence of making significant evidence inacces- sible Several payments passed through the U.

In fact, the offshore entities located in Antigua, the British Virgin Islands and Belize had also bank accounts in New York, which they used to move million dollars to fill 23 Ibid. However, when in the bank moved near bankruptcy and all bank accounts were frozen accordingly, Klienfeld and its business partners tried to buy it. In most cases, the bribery machine aimed at securing public works contracts or obtaining favorable conditions on government projects in various countries, such as those listed in Table 1 below.

For each country, the plea agreement indicates the bribes paid and the profit obtained, highlighting an extremely high ratio. In fact, Odebrecht typically used intermediaries to negotiate contracts with governments on behalf of the company, knowing that they would pay bribes to government officials in order to influence the allocation of resources to Odebrecht projects, to obtain confidential pricing and bidding information in connection with those projects, and giving them a percentage of the contract price in connection with their work On the impact of the Thompson Memo see C.

Under a plea agreement, the defendant acknowledges to be guilty of a crime and subjects itself to a criminal conviction without a trial.

petrobras braskem relationship memes

The plea agreement, however, is not the only possible form of deal de justice, as two other forms exist, that were borrowed from juvenile justice and petty crimes practice: A DPA is a deal where the prosecutors agree to defer prosecution to a subsequent moment in exchange for the company to accept certain terms. Usually these terms entail, together with the payment of a substantial amount of money, the adoption or improvement of a specific compliance program and the monitoring of corporate policy and conduct.

If the company breaches one of these terms, prosecutors may rescind the agree- ment and bring the company to trial, with all the related repercussions.

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Like in the DPA, the defendant pays a significant amount of money and commits to exercise a certain internal corporate control. In case of a NPA, all allegations and documents shared by the parties and the text of the agreement itself remain undisclosed to third parties and are not filed with a court The choice between a plea agreement, a DPA, or an NPA seems to be the result of a combination of circumstances, including the gravity of the allegations, the prosecutorial discretion and the negotiation abilities of the defendant On the other hand, the three forms of resolution present 32 D.

Aligning with the pattern described above, the plea agreements signed by Odebrecht and Braskem present identical texts and similar character- istics. Also Koehler uses the same expression: In line with the double spirit of the FCPA, which requires actions in both directions of book-keeping and anti-corruption policies cf.

The pro- gram necessarily includes: Furthermore, both agreements introduce in the corporate setting a new figure: Odebrecht, supra note 1, and Plea Agreement, U. Finally, the plea agreements establish that both Odebrecht and Braskem waive certain legal and even constitutional rights like those deriving from the applicable statute of limitations, the right to a speedy trial and to receive an indictment.

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The question of the extraterritorial reach of the FCPA has been under the focus of legal scholars since decades Actually, a foreign element is 43 Ibid. The New Corporate Czar? See Plea Agreement, U. Odebrecht, supra note 1, and Plea Agreement U.

Any such contradictory statement shall, subject to cure rights of the Defendant [ However, it is only after the well-known corporate scandals occurred in early s Enron, Arthur Andersen, etc.

A new era was marked more recently, when the FCPA has eventually become a necessary part of the vocabulary of any professional operating in the global marketplace: Congress sought primarily to discipline the behavior of U. At the origin of the FCPA was the famous Watergate scandal and the subsequent discovery, by Americans, of a widespread practice of corruption by U. Moreover, the economic situation in the s was obscured by the specter of accounting trickery and unrecorded funds that multinational enterprises made in order to conceal bribes paid to foreign officials, as investigations of American prosecutors revealed.

Consequently, the Congress enacted the FCPA trying to restore public confidence in the integrity of American business system. On the other hand, the accounting provision entails certain requirements, including: The first line relates to the access to the U. While in certain cases the use of e-mail has been crucial, some enforcement actions have targeted foreign companies based on even nar- rower links with the U. In Statoil, for example, the Norwegian company Statoil was subject to the FCPA pursuant to the sole circumstance that it had received and paid two invoices from an English consulting company, acting as an intermediary with an Iranian official, instructing that the payment be effected through a U.

More recently, the French company Total S. In the case of Odebrecht and Braskem, different links with the United States were present that were definitely more intense than a single e-mail or transaction. In conclusion, because both corporations had links with the United States, the FCPA applied to them and they were subject to the jurisdiction of U.

This last paragraph illustrates two of the peculiarities of the plea agreements signed by Odebrecht and Braskem with the DOJ and the SEC, for the latter: See Statement of Facts, United States v. In addition to that, Total S. For the weight of this figure, several scholars — and the U.

petrobras braskem relationship memes

In particular, the initial calculation was developed as follows. Of this amount, the parties agreed that Odebrecht would pay only 2. Moreover, the plea agreement provided that, within three months from the signature, the DOJ and the Brazilian authorities would jointly ascertain, through an appropriate due diligence, whether Odebrecht is capable or not of paying said amount on a period of five years.

Based on the findings thereof, the DOJ would accordingly reduce or increase the total penalty As the culpability score for Odebrecht was 9, the multipliers ranged between 1. The fine range from 6 to 12 billion dollars results from multiplying the basis 3.

petrobras braskem relationship memes

The calculation is the same for Braskem, except that for this company the culpability score was 8 and therefore the multipliers ranged between 1. Upon completion, if any additional amount is determined by the [DOJ] and the Brazilian authorities to be available, The same reasoning applied to Braskem.

Here, however, the discount conceded by the DOJ on the penalty of However, while CNO and Odebrecht settled by jointly and severally paying approximately mil- lion dollars, the action against Braskem was abandoned by the Swiss prosecutors after the company agreed to pay Finally, as to the civil penalties due by Braskem to the SEC, calculated in million dollars, the plea agreement determined that such amount would be shared with Brazil With 36 industrial plants spread across Brazil, United States, Mexico and Germany, the company produces over 16 million tons of thermoplastic resins and other petrochemicals per year.

Besides these three petrochemical complexes, Braskem also controls a complex in Duque de Caxias, Rio de Janeirowhich is based on gas rather than naphtha. Its basic petrochemical units account for the supply of ethylene and propylene to the company's nearby polymer units.

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The company also produces other chemical products such as benzenebutadienetoluenexylene and isoprene. These compounds are mostly sold to other chemical companies based within the same complexes, such as Innova S.

Although its main feedstock is naphthaBraskem's green ethylene plant was inaugurated in September, This green ethylene plant is an important step forward in the strategy of becoming a global leader in sustainable chemicals. Located at the Triunfo petrochemical complex in the state of Rio Grande do Sulthe plant producestons of green ethylene, which will be transformed into an equivalent volume of green plastic. Polymers[ edit ] Braskem is Brazil's main producer of polyethylene, polypropylene and polyvinyl chloride — PVCwith 5.

petrobras braskem relationship memes

The company is also the leader in the US polypropylene market, with 1. In addition, its polypropylene capacity production in Germany istons.

Brazil's Petrobras and Odebrecht in talks to revise Braskem shareholder accord: filing | Reuters

Braskem is also implementing an integrated petrochemical complex in Mexico. The complex will constitute of a cracker using ethane as feedstock, and three integrated polyethylene plants with a combined annual capacity of 1. The complex will begin production by mid