Quote:
Originally Posted by AverageJoe
On another note...
EVERGREEN RAPID TRANSIT HOLDINGS and SNC-LAVALIN EVERGREEN LINE HOLDINGS INC. have been listed on the World Bank Listing of Ineligible Firms & Individuals for fraud and corruption. SNC Lavalin and it subsidiaries are known for bribery and other underhanded business tactics but anyone have any idea what Evergreen is on for?
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Nothing. "Evergreen" isn't on for anything.
"Evergreen" is on the list simply because it is a "child" company of SNC Lavalin, who the World Bank *really* wants to target. And for this particular criteria, the children would pay for the sins of the father, even though they have done absolutely nothing wrong.
I doubt "Evergreen Rapid Transit Holdings" and "SNC-Lavalin Evergreen Line Holdings Inc." will be bidding for any business contracts overseas anyway (SNC will just bear another child company for those purposes). They were formed by SNC to isolate the business activities that is solely part of the Evergreen Line project.
So my understanding is say if somewhere down the road someone in the Evergreen Line project working for "Evergreen" f*cks up and results in a massive class action lawsuit, "Evergreen" will be the one named in the suit as oppose to the parent company which is SNC Lavalin.
TO ADD: Technically the one building the Evergreen Line is "EGRT Construction". I'm no corporate lawyer but I suspect the holding companies you mentioned may simply be extra corporate entities that SNC may have formed with the intent of using them for the Evergreen Line or maybe they currently use them somehow behind the scenes. Companies form affiliates all the times for a variety of legal reasons.