FCPA Malpractice Liability Concerns for Outside Counsel: the Saybolt Case and its Progeny
Article from: OGEL 5 (2003), in Corruption
The Foreign Corrupt Practices Act ('FCPA') was enacted in 1977, prohibiting US companies from paying bribes in connection with their international business transactions. One of the most interesting and unusual series of FCPA-related cases involves the Dutch company, Saybolt International BV ('Saybolt'), and its various subsidiaries, employees, shareholders, successors and outside legal advisors. The payment of a $50,000 bribe in 1995 by Saybolt has resulted in the criminal conviction of the former chief executive officer of Saybolt's US subsidiary, the guilty plea to an FCPA violation by ...