The Preliminary Investigation of SNC Lavalin
Since it has not been able to set aside the criminal charges filed against it since 2015 since federal prosecutors refuse to negotiate, Groupe SNC-Lavalin is now preparing for a long legal battle.
The preliminary investigation by the engineering firm is scheduled to begin Monday at the Montreal courthouse. It could be spread out for about a month.
SNC-Lavalin earlier this month received a slap from the Public Prosecution Service of Canada (CPPD), which is currently refusing to negotiate a reparations agreement. Such agreements, which have recently been possible thanks to a new federal law, generally provide for the payment of a fine and a series of conditions to be met in exchange for abandoning court proceedings.
According to the Royal Canadian Mounted Police (RCMP), the firm reportedly paid $ 47.7 million to public office holders in Libya to influence government decisions. In addition, two divisions would have deprived various local organizations of approximately $ 129.8 million.
The multinational, which says it has nothing to reproach itself, is convinced of being able to prove its innocence. If SNC-Lavalin were found guilty, it could be excluded from federal tenders for up to ten years.
The decision by federal prosecutors plunged the action of the engineering firm on the Toronto Stock Exchange. Some analysts question whether the uncertainty created by criminal charges could pave the way for some of its activities to be offloaded.
Scenarios such as a sale of the construction and engineering unit, the closing of the company’s capital or even a complete withdrawal from the Canadian market were mentioned.