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SNC-LAVALIN scandal

alexd

Administrator
Staff member
Here is a pretty even take on the whole matter from Canadian Lawyer:

The real scandal in the SNC-Lavalin affair | Canadian Lawyer Mag

After reading it I have decided SNC-LAVALIN should be criminally charged for its activities and those charges should make their full way through the court process without any government meddling. Also, the company should be immediately blocked from government contracts for 10 years as specified in Canadian law.

I know fellow business people who have gone through the rigorous process to get government contracts. I myself have even sat through multi-hour Canadian government seminars on how to do business with the Canadian government and how to get government contracts. I did not go ahead with the process because it seemed too long and complicated but I do remember security clearance, rigour, law, ethics all are all stressed in these seminars.

If SNC-LAVALIN gets a break here it taints the entire government procurement process.
 
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Bernnie Federko

TRIBE Member
SNC-Lavalin Group Inc on Thursday cut its dividend and reported a quarterly loss, as the struggling Canadian construction and engineering firm was hit by a $1.7 billion goodwill impairment charge related to its resources unit.

The company reduced its quarterly dividend to 2 Canadian cents per share from 10 Canadian cents per share, its second cut this year.

The company withdrew its forecast for 2019 last week citing lower-than-expected results and said it would exit fixed-price contracts while it explores all options for its resources unit, including a sale.
 
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Bernnie Federko

TRIBE Member
With a single charge of fraud and a fine of $280-million, a unit of SNC-Lavalin has reached a deal over its Libya dealings that brings to a close a saga that rocked the company and Justin Trudeau’s government.
The terms of the deal: The fine will be paid out over five years and SNC-Lavalin Construction will be under a three-year probation order. A more potentially damaging charge of bribery was dropped. SNC said the agreement allows for it to continue bidding on federal contracts.
Political reaction: The Liberal government said it played no role in the deal, which comes 10 months after Jody Wilson-Raybould said the Prime Minister and members of his inner circle put pressure on her to drop the charges. Trudeau defended his conduct but said “there are things we could have, should have, would have done differently.”
Market reaction: SNC shares jumped 19 per cent yesterday, with investors able to set aside worries about a potential obstacle to the company’s turnaround efforts.
Opinion and analysis
Konrad Yakabuski: “In the end, the scandal that rocked Trudeau’s government for the better part of a year will have produced no winners, only losers.”
Globe editorial: “Wednesday’s settlement is just more proof of how off-base Trudeau was. While it’s fair to argue that SNC-Lavalin got off lightly, the bottom line is that the justice system appears to have done its job, independently.”
Campbell Clark: The deal “will help [Trudeau] turn the page on the story that dogged him and his government in 2019. Wednesday was New Year’s Day.”
 

alexd

Administrator
Staff member
How soon before these guys start getting government contracts again, tomorrow?
 
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