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Pemex Files Suit To Recover Nearly $160 Million From Two Multinationals In Global Bribery Case



  Pemex Files Suit To Recover Nearly $160 Million From Two Multinationals In
                             Global Bribery Case

  PR Newswire

  NEW YORK, May 20, 2013

 

NEW YORK, May 20, 2013 /PRNewswire/ -- Petroleos Mexicanos (Pemex) and its
affiliate Pemex-Refinacion (PREF) have filed a lawsuit in New York seeking to
recover nearly $160 million from German multinational Siemens and South
Korea's SK Engineering & Construction Co. Ltd. (SKEC) in a global bribery
case.

According to the amended lawsuit, filed May 8, 2013 in U.S. District Court
(case number 12 Civ. 9070 [LLS] ECF), Siemens and SKEC allegedly submitted an
unrealistically low bid in 1996 to win a public contract for modernizing a
Pemex refinery in Cadereyta, Mexico.

"Pemex takes allegations of corruption seriously and has zero tolerance for
bribery or fraud as a method of doing business," said Diaz Reus Partner Carlos
Gonzalez.

On December 15, 2008, Siemens pleaded guilty to conspiring to commit
violations of the U.S. Foreign Corrupt Practices Act, and agreed to pay a
precedent-setting $1.6 billion penalty to U.S. and European authorities to
settle charges that it routinely used bribes and slush funds to secure massive
public works contracts around the world, including refinery modernization
projects in Mexico.

Based in Seoul, Korea, SKEC is a multinational conglomerate with operations in
the energy, housing, architectural, infrastructure, and telecommunications
sectors. Several officers of SKEC were imprisoned in Korea in 2003 due to
irregularities in the worldwide management of the company, including
corruption.

In testimony given May 6, 2013, at Mexico's Solicitor General's Office, Peter
Paul Muller, Siemens Mexico's former general counsel confirmed that Siemens
paid bribes to PEMEX officials connected to the Cadereyta Project cost
overruns. He added that there are other witnesses with knowledge of the facts
related to the lawsuit.

"Pemex intends to gather additional testimony and information related to this
important global corruption case," said Gonzalez.

About Pemex Petroleos Mexicanos (Pemex) is a decentralized public entity of
the federal government of the United Mexican States. Pemex is Latin America's
largest company and Mexico's chief economic engine. It is one of the few oil
companies in the world involved in all aspects of exploration, distribution,
and commercialization of its products. PREF is a subsidiary that processes,
transports, and markets a wide range of products derived from crude oil,
including gasoline, jet fuel, diesel fuel, oil, asphalts, liquefied petroleum
gas, lubricants, and other refined oil products.

About Diaz Reus Diaz Reus represents dealmakers around the world with a focus
on emerging markets. With experienced lawyers in the U. S., Latin America,
Asia, Europe, and the Middle East, the firm is uniquely suited to handle a
wide range of complex commercial, business, and financial transactions across
international borders. Diaz Reus lawyers have experience in government
relations, trade, compliance, customs, tax, and immigration matters, as well
as internal and government investigations, complex litigation, and arbitration
matters. Diaz Reus operates offices in Miami, Florida; New York City, New
York; Caracas, Venezuela; Shanghai, China; Dubai, U.A.E.; Iraq; Frankfurt,
Germany; Bogota, Colombia; Panama City, Republic of Panama; Mexico City,
Mexico; Buenos Aires, Argentina; Santiago, Chile; and an affiliate office in
Sao Paulo, Brazil. For more information, visit www.diazreus.com or
http://www.jdsupra.com/profile/diazreus .

CONTACT:  Lucien Proby, +1-305-251-3671, bp@probypr.com

Website: http://www.diazreus.com
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