Noble Corp.’s wholly owned indirect subsidiary, Noble Asset Company Ltd., continues to pursue contractual indemnification against liability for Indian customs duty and related costs and expenses against a rig’s previous owner in arbitration proceedings in London, which proceedings the parties…
Bunge Limited has reserved US$240 million as of June 30, 2008, for liabilities related to pending tax claims by Brazilian federal, state and local tax authorities.
The Brazilian tax claims relate to income tax claims, value added tax claims and…
Bunge Limited reserved US$135 million as of June 30, 2008, in respect of a number of labor claims from its Brazilian subsidiaries.
The labor claims primarily relate to dismissals, severance, health and safety, salary adjustments and supplementary retirement benefits. (Lloyds Corporate…
The criminal charges filed by the Paraguay public attorney’s office against Bunge Limited’s Paraguayan and Brazilian subsidiaries, Bunge Paraguay S.A. and Bunge Alimentos S.A., and nine employees of these subsidiaries, are pending.
In February 2008, an attorney with Paraguay’s public…
Bunge Limited recorded a US$21 million other expense for the second quarter of 2008 which included primarily a provision of US$19 million for an adverse ruling received during the quarter.
The ruling relates to a Brazilian social security claim tax against…
The investigations on Parker ITR’s marine oil and gas hose business are ongoing.
Parker ITR is a subsidiary of Parker Hannifin Corp.
On April 27, 2007, a grand jury in the Southern District of Florida issued a subpoena to Parker ITR.…
Transocean Inc. continues to contest the US$153 million tax assessments from the state tax authorities of Rio de Janeiro, Brazil.
In the third quarter of 2006, the Company received the US$153 million tax assessments against one of the Company’s Brazilian…
The legal challenge on the merits of the US$40 million assessment against Duke Energy Corp.’s subsidiary, Duke Energy International Geracao Paranapanema S.A. (Paranapanema), remains pending before the Brazilian federal court.
In June 2007, the Brazilian electricity regulatory agency (ANEEL) issued…