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Allison Clare part of counsel team in largest ever UK deferred prosecution agreement between SFO and Rolls Royce plc – global settlement fee of 671m

18. Jan 2017

The UK court approved settlement totals £497.25 million plus interest and costs. The suspended indictment covers 12 counts of conspiracy to corrupt, false accounting and failure to prevent bribery. The conduct spans three decades and involves Rolls-Royce’s Civil Aerospace and Defence Aerospace businesses and its former Energy business and relates to the sale of aero engines, energy systems and related services. The conduct covered by the UK DPA took place across seven jurisdictions: Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia.

At the same time Rolls-Royce also reached an Agreement with the US Department of Justice and a Leniency Agreement with Brazil’s Ministério Público Federal today. In total, these agreements result in the payment of approximately £671 million (including US$170m to the US and $25m to Brazil) by Rolls- Royce at the current exchange rate. Click here to read the full judgement.

The case has been published widely: BBC, Financial Times, The Guardian, Serious Fraud Office

 

 

Associated members: