Tidewater Announces Expanded Investigation

Friday, October 05, 2007
Tidewater Inc. has previously announced that the Audit Committee of its Board of Directors had engaged special counsel to conduct an internal investigation into the legality, under the Foreign Corrupt Practices Act (FCPA), of its Nigerian affiliate's reimbursement of certain payments made by a third party agent to procure temporary importation permits and other authorizations necessary for Tidewater's vessels and crews to operate in Nigerian waters, as well as to review certain practices and transactions in other jurisdictions to determine whether an expansion of the original scope of the investigation was warranted. The Audit Committee has now determined that other aspects of the company's international operations merit a more intensive FCPA review and, accordingly, the scope of the investigation has been expanded to include the review of the company's use in certain markets of third party marketing and other agents, and immigration and customs practices of the company in other countries. Tidewater Inc. owns 454 vessels, the world's largest fleet of vessels serving the global offshore energy industry.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Volvo Penta Names Brown Commercial Marine Sales Director

Dave Brown has joined Volvo Penta of the Americas as director of commercial marine sales.   In this new position, Brown will provide strategic and administrative

Romica Manufacturer Secures DNV GL Approval

U.K. winch maker Romica said it is to “redouble its exports drive” after its Romania-based manufacturing partner successfully acquired accreditation with DNV GL.

Finance

Will UK Maritime Traffic Rise or Fall on Brexit?

UK container traffic will see more muted growth than expected a few months ago, at least in the short term, says Drewry.   Patrick Walters, Peel Ports’ Group Commercial Director,

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0778 sec (13 req/sec)