Corporate Governance

2 stories

Economy
Corporate governance
Cargolux agrees €1.15 million penalty to settle Gabon influence-peddling case
Cargolux has agreed to pay about €1.15 million to settle a Luxembourg influence-peddling case tied to its former activities in Gabon, in a rare corruption-linked judgment against one of the country's strategic national champions.
By Marc Weberyesterday
Economy
Corporate accountability
Cargolux to pay €1.15 million to settle Gabon influence-peddling case
Cargolux, Luxembourg's flag cargo carrier, has agreed to pay about €1.15 million after a Luxembourg court ratified a negotiated settlement over influence-peddling linked to its operations in Gabon between 2010 and 2015. The case, which the airline voluntarily disclosed in 2015, targets only the company and no individuals — a rare corporate-governance moment for a champion majority-controlled by the Luxembourg state.
By Jonas Thill3 days ago