HERBERT SMITH FREEHILLS
11
A DEFERRED PROSECUTION
THE KINGDOMOF SPAIN
We acted for ICBC Standard Bank Plc as it entered into the UK’s first ever deferred prosecution agreement, one of the most significant corporate criminal cases for many years. A DPA is a voluntary agreement that suspends prosecution subject to the defendant’s compliance with the prosecuting authority’s terms. The case was one of the first in the UK to consider new Sentencing Council Guidelines for Corporate Offenders, and was hailed by David Green QC, Director of the Serious Fraud Office, as a “landmark” that will “serve as a template for future agreements”.
A cross-office team from London, New York and Madrid secured victory in the largest arbitration case in Spanish history, regarding alleged violations of the protections in the Energy Charter Treaty. This was an extremely important victory for Spain, which faces another 26 international arbitral tribunals based on similar facts. The lead partner was nominated as Transatlantic Arbitrator of the Year for his work on the case.
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