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In one of the largest cases before the Commercial Court in London, Howard Kennedy is advising Maria Isaltina de Sales Lucas, the former deputy finance minister of Mozambique, in a $2 billion dispute regarding state guarantees and bonds, ostensibly to fund tuna fishing and other projects.
The Supreme Court said that Mozambique could sue the shipbuilder Privinvest, its owner Iskandar Safa, Credit Suisse and others in Britain for alleged bribery connected to what became known as the “tuna bond” scandal. At the time of writing a three-month commercial court trial was listed to start in October 2023.
The firm is acting for a FTSE 100 company, undertaking investigations relating to allegations of fraud, false accounting, money laundering and fraudulent trading committed against it.
It is also advising two senior individuals with regard to a Serious Fraud Office investigation into the commodity trading and mining company Glencore, concerning widespread allegations of bribery and corruption. It follows the admission last year by Glencore of seven bribery offences related to paying or failing to prevent the payment of millions of dollars in bribes to officials in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria and South Sudan.
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★ Commended for financial crime & fraud & regulatory
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