KBR Says Abiding By U.S. Laws Puts it At a 'Competitive Disadvantage' from TPR: The Public Record

from http://www.pubrecord.org/nationworld/773-kbr-says-abiding-by-us-laws-puts-it-at-a-competitive-disadvantage.html

In a recent Securities and Exchange Commission filing, former Halliburton unit KBR complained that it will be at a "competitive disadvantage" to win "large-scale" international contracts because it is being forced to comply with U.S. laws.  

Last month, KBR pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) and admitted that it paid $180 million in "consulting fees" to two agents for use in bribing Nigerian government officials to win a lucrative construction contract for the Bonny Island natural gas liquefaction plant while former Vice President Dick Cheney headed the corporation. KBR paid a $402 million fine as part of its plea deal.

Under the terms of the plea agreement, KBR agreed to retain an independent compliance monitor for three years to ensure it is abiding by U.S. laws, limit its use of foreign agents, and promised to file regular reports on the compliance program with the Department of Justice.

KBR, which was spun off from Halliburton into a separate company in 2007, said in a 10-K filing with the SEC, however, that "limitations on our use of agents as part of our efforts to comply with applicable laws, including the FCPA, could put us at a competitive disadvantage in pursuing large-scale international projects."