Foreign Corrupt Practices Act und Mergers & Acquisitions

Nachfolgenden Artikel halten wir für empfehlenswert , da er einmal mehr die Wichtigkeit einer Due Diligence in Unternehmenskäufen aufzeigt, die sich auch und insbesondere mit möglichen Verstössen gegen den FCPA befasst. Die Folgen der Haftung unvollständiger Due Diligence betreff auch sonstiger Verstösse gegen geltendes Recht für die übernehmende Gesellschaft, also der zukünftigen Muttergesellschaft für die zukünftige Tochtergesellschaft können gravierend sein, so zuletzt zu sehen im Fall Oracle gegen SAP (TomorrowNow).

“In a webinar on December 2, 2010, it was discussed the implications of the Foreign Corrupt Practices Act (FCPA) to mergers and acquisition.

The lawyers advised that businesses which seek to minimize their FCPA liability risks should pay careful attention to the potential exposure created by merger and acquisition activity. This is due to the fact that unwary companies can “purchase” FCPA liabilities by failing to conduct appropriate due diligence of their intended transaction partner. On the other hand, companies alert to those risks have been able to avoid successor liability altogether or, more frequently, obtain assurance about the scope of potential FCPA liability before the transaction is complete. Indeed, successor liability may attach in a stock transfer or merger because the assets and liabilities of the target company generally transfer to the acquiring company after closing; or the liability may attach in an asset purchase depending on the extent of the purchase and whether the target business is continuing or if the purchase agreement specifies which assets and liabilities transfer.

There are several recent examples where companies, which acquired targets, sustained large FCPA fines for the FCPA violations the acquired companies had engaged in prior to the acquisition. These include the Alliance One matter resolved this past summer with a $4 ...

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