EUROPE's big
planemaker Airbus
is being sued by former consultants over alleged questionable practices related
to aircraft sales, reports Bloomberg.
Credit
agencies, including UK Export Finance and state institutions in France, Germany and
Spain, suspended backstop financing.
Airbus
admitted in its annual report that the legal trouble may impact future
financial statements, while adding it was too early to tell likely liability or
its extent.
Airbus
earlier declared that it discovered "misstatements and omissions" in
some applications for export credit financing related to the use of third-party
consultants.
Britain's
Serious Fraud Office and
France's
Parquet National Financier probed allegations of fraud, bribery and
corruption.
The
company said it had dropped the questionable middlemen. In the report, Airbus
said it has "engaged legal, investigative and forensic accounting
expertise" to review consultant relationships and is "conducting
enhanced due diligence" related to these contracts.
Airbus
didn't say which consultants have sued the company, how many cases have been
filed or the exact nature of the claims. A spokesman declined to comment.
Source
: HKSG.
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