Colombia: SIC requested to disqualify Oderbrecht for 20 years

The Vice Presidency of the Republic of Colombia and the National Agency of Judicial Defense of the State have asked the Superintendence of Companies to impose a ban on the companies that make up the Oderbrecht Group from acquiring contracts with the Colombian State for a period of 20 years, as a consequence of the widespread acts of corruption committed in Colombia and other Latin American countries.

The Colombian company Constructora Norberto Odebrecht S.A. had proposed to the National Agency of Judicial Defense of the State and other entities an “Integral Reparations Agreement”, whereby the company would offer financial compensation for the damages caused, in exchange of the withdrawal of all legal proceedings against it and allowing for its re-employment for State projects.

The Vice Presidency of the Republic and the National Agency for Legal Defense of the State, as well as other entities, have rejected this request.