Displaying items by tag: Legal

Bolivia/Mexico/US: The US District Court of Colorado has confirmed compensation of US$36.1m awarded to Bolivian investment company Compania de Inversiones Mercantiles (CIMSA) from Mexico’s Grupo Cementos de Chihuahua (GCC). The arbitration follows a dispute that started in 2011 between CIMSA and GCC about the sales of shares in the Sociedad Boliviana de Cemento (SOBOCE) to Consorcio Cemento del Sur de Perú.

GCC said that it will continue to dispute the ruling and that it would continue to fight the legal case in Bolivia. In 2015 local courts in Bolivia overturned damages imposed by the Inter-American Commercial Arbitration Commission (CIAC) upon GCC.

Trinidad & Tobago: The council of trade ministers in the Caribbean Community (CARICOM) has agreed to the classification of Rock Hard Cement’s products in Trinidad. Rock Hard Cement has faced legal action from its competitor Arawak Cement about the designation of its products and the tariffs they incur, according to the Barbados Today newspaper. The matter will be referred to the Caribbean Court of Justice (CCJ) in June 2019 for final arbitration.

Trinidad Cement, the owner of Arawak Cement, took legal action against Rock Hard Cement in the CCJ alleging that the cement importer was misclassifying its products as ‘other hydraulic cement’ instead of ‘Portland cement-building cement grey’ leading to a lower import duty. However, the World Customs Organisation and CARICOM’s Council for Trade and Economic Development (COTED) have both ruled in favour of Rock Hard Cement. As such it only incurs a tariff of up to 5%. Rock Hard Cement said that it expects the CCJ to uphold COTED’s ruling in June 2019.

France: Eric Olsen, the former human resources chief of Lafarge says that charges of financing a terrorist organisation by have been dropped against him. French prosecutors have been investigating Lafarge’s conduct in Syria, according to the Agence France Presse. In late 2017 Olsen and two other former executives were charged with ‘financing a terrorist organisation’ and ‘endangering the lives of others’. The second charge still stands against Olsen although he is reportedly challenging it.

The investigation is attempting to determine whether LafargeHolcim’s predecessor company Lafarge Syria paid terrorist groups in Syria during its civil war and how much managers knew about the situation.

Taiwan: Taiwan Cement has reassured the public about the quality and safety standards of its cement and other products. It follows fraud charges being issued to a former government official for supplying raw materials mixed with industrial waste to the cement producer, according to the Taipei Times. Taiwan Cement says it is conducting inspections on all raw materials, including taking random samples of the top and bottom layers of delivery trucks from suppliers.

Lai Chin-kun, a former Hualien County Council speaker, secured local government contracts for his family’s companies to dispose of industrial waste, including industrial byproducts and inorganic debris from electroplating, optoelectronics and display panel manufacturers and pulp paper processing companies. Another family company won a contract with Taiwan Cement in 2010 to supply limestone, clay, sand and other raw materials required for cement production.

Prosecutors allege that when supplying raw materials to Taiwan Cement, Lai instructed company drivers to fill the bottom half of the trucks with industrial waste and place natural materials, such as clay, sand and limestone, on the top half to fool inspectors. Lai reportedly made US$14.1m from the scheme from 2010 to 2015.

India: Braj Binani, the owner of Binani Industries and the former owner of Binani Cement, has been prevented from travelling to the UK by Indian immigration officials. Punjab National Bank (PNB) issued a so-called lookout notice to prevent debt defaulters leaving the country, according to DNA Money. The notice was issued following Binani’s failure to attend a Kolkata Bench of the National Company Law Tribunal (NCLT) on 20 January 2019.

Binani Industries had stood guarantor for a US$42m loan taken out by a subsidiary but then left unpaid. Binani Cement was acquired by UltraTech Cement in late 2018 following a legal battle with Dalmia Bharat.

Philippines: The Department of Trade and Industry (DTI) has issued supplemental guidelines for the certification of cement. The regulations require producers or importers to follow conditions set by the Bureau of Philippine Standards (BPS), according to the Manila Times newspaper. The new rules require producers or importers to post a bond ahead of trading. Non-compliance with the certification rules can then lead to a forfeit of some or all of the bond. Not following the regulations can also lead to a producer or importer being prevented from supplying, distributing, selling or displaying their products. The new rules specify that an importer should apply for a statement of confirmation (SOC) on a per product, per shipment, per bill of lading basis prior to its distribution in the market.

Thailand: Uttama Savanayana, the Industry Minister, has ordered agencies under the ministry’s control to set tighter dust emission standards for factories in Bangkok. He also intends to set up a working group to look at the issue, according to the Bangkok Post newspaper. Savanayana wants factories around the country, including cement plants, to be inspected. Legal action has been recommended for any sites that are exceeding the legal limits.

Nigeria: Four workers of Dangote Cement have been jailed for stealing cement worth over US$40,000. The defendants diverted nine cement trucks, bound for Togo, using fake identity cards and truck number plates, according to the Punch newspaper. Adewale Dalmeida, a fleet analyst, at the Ibese Plant, worked with the chief driver of the company, Ibrahim Lawal, and a Ghanaian driver, Lukman Adam, and Afeez Olaniba, who worked as an agent at the Nigerian-Benin border. The prison sentences imposed range from a 18 months to five years.

India: The Supreme Court has dismissed a request by Rajputana Properties, a subsidiary of Dalmia Bharat, to review to decision to dismiss a plea challenging the National Company Law Appellate Tribunal's (NCLAT) order allowing UltraTech Cement to acquire Binani Cement, according to the Financial Express newspaper. UltraTech Cement declared that Binani Cement was its subsidiary in November 2018 following a protracted legal battle with Dalmia Bharat. It changed its name to UltraTech Nathdwara Cement in December 2018.

India: Rajputana Properties, a subsidiary of Dalmia Bharat, has requested that the Supreme Court consider a review of its decision to dismiss a plea challenging the National Company Law Appellate Tribunal's (NCLAT) order allowing UltraTech Cement to acquire Binani Cement. The Supreme Court is scheduled to consider the review request in early January 2019, according to the Financial Express newspaper. UltraTech Cement declared that Binani Cement was its subsidiary in November 2018 following a protracted legal battle with Dalmia Bharat. It changed its name to UltraTech Nathdwara Cement in December 2018.