Petrofac Share Discussion Threads

[wardy333] 02/3/2021 08:03

cyber,,, Yes not sure why his legal team did not bring up the Supreme Court ruling, and tried to challenge the evidence, not studied the case but its done and dusted now, the SFO will be pleased, still think they will hang this out as some sort of punishment to PFC, if they think Lufkin has a chance of getting off.,

[cybernest53] 01/3/2021 20:11

@Wardy333.... Depends on the evidence that was submitted I suppose. I'm sure Bonds' legal team would have taken any recourse, especially if evidence submitted was deemed inadmissible. I suspect in this case it wasn't evidence obtained from overseas (or could be evidence submitted prior to the precedent set by the KBRcase?) but based on evidence already held, particularly the evidence gathered by the DoJ and US Authorities in relation to the Ahsani family.

As to whether this is the end of the Unaoil case, I'm not sure but it looks like it from the SFO case page:

[wardy333] 01/3/2021 18:18

What I can't understand is why Bonds legal team have not asked for evidence to be made inadmissible, they have just let the case roll on, so makes me think Lufkin will get the same or am I missing something.
Very strange why the delay and for so long on the Lufkin case, SFO have concluded the Unaoil case by the looks.,

[leoneobull] 01/3/2021 17:55

PFC 2, SFO 0

[cybernest53] 01/3/2021 17:34

Exactly Petrich... As I conjectured in my post on 19th Feb (16627):

"The Lufkin adjournment came a day or so after the SFO were ruled against in the KBR Case on 5th Feb:

"The Serious Fraud Office’s ability to compel evidence from overseas was dealt a blow in the Supreme Court on Friday in a ruling that underlines the limits of its powers to tackle the increasing cross-border nature of financial crime.Â

“This is a serious blow to the SFO. Without being able to use its [Section 2 powers] overseas, the agency finds itself in a peculiar position of having the power to prosecute overseas companies/individuals, but with limited powers to investigate them,� said Kyle Phillips, a criminal lawyer at Fieldfisher, adding: “When the [Criminal Justice] Act was created in the 80s the world was a smaller place.�;



I suspect the 'redirect' in Lufkin's case is related to this ruling.

I would also suggest any pending case, in relation to the SFO investigation of PFC is pretty much scuppered as any evidence gathered would have to involve overseas documentation... now deemed inadmissible!

I would not be surprised to hear from the SFO in relation to the PFC investigation long before June and the Lufkin case's redirection.

But of course, I'm no expert but that's how I'm reading things. As they say, WTFDIK!"

[petrich] 01/3/2021 17:26

And that is the big big question....

Why, when someone has pleased guilty and turned up to get his sentence would you go .....

Stop Complete change of plan...

"I will delay this case for 5 months and then review the case and consider whether there needs to be further information or action taken by the parties, Cafcass or anyone else".

I would suggest which is pretty obvious something very major has occured to cause this....

I would be suprised if its anything to do with new evidence or statements as surely they have had 4 years for that.I also would have thought that Lufkin would have done any kind of plea for info deal a long time ago....

So its either something completely new left field that we dont know about or is it to do with the recent ruling on forgeign evidence ?

Any thoughts ??

Oh to know which one ???

[sbb1x] 01/3/2021 17:20

Briton jailed over the plot to pay bribes for #Iraq oil contract. The jailing of Paul Bond on Monday is the fourth successful prosecution by the @UKSFO following the exposure of the systematic use of multimillion-dollar bribes #Unaoilhttps://t.co/BdKhuRpkuS

[cybernest53] 01/3/2021 16:49

Lufkin is not a 'case review'. The sentencing was adjourned on the 11th February to 6th June 2021 for a Judge's redirection. Big difference!

[comedy] 01/3/2021 14:36

thanks twixy

[pepepepe73] 01/3/2021 13:47

Brent price needs a little bit of consolidation at lower levels.

[twixy] 01/3/2021 10:39

There isn't one - a case review is scheduled for June.

[comedy] 01/3/2021 10:30

guys can someone please remind me, what date has now been set for sentencing?

[dealy] 01/3/2021 10:23

Judging by the way this is languishing it looks like investors really are waiting for SFO clarification even if that takes months

[petrich] 01/3/2021 08:16

With Joes stimulus package ob the way should be a much better day today....

Be interesting to see what new contracts Petrofac wins now that the oil industry is opening or will they win a few more new energy ones.

It is an amazing time to be in their industry and if they are as good as they say we should hopefully do very very well......

New man at the top with a very decent pedigree as well.....Heres to Petrofac....

[w1ndjammer] 01/3/2021 08:01

ffs its only words on a otherwise blank page, get a life........

WJ.

[fizzmiss] 28/2/2021 16:46

Apologies; this parasite runs a ramp pump and dump syndicate over on the Dorkside thread and has Trolled me for months after exposing his syndicate scams.

He is nothing more than a women hater, would hate to see how he treats his wife.

Here you will see him skulking back to the Dorkside doing his ritual rope a dope jig:

[petrich] 28/2/2021 16:31

Blimey,

Thats friendly for a Sunday.....

Another day of Petrofac making money....Tomorrow looks a little calmer and kinder....

Roll of £2, £3, £4, £5.........End of 2022...Well you never know.....

[dealy] 27/2/2021 12:29

Yeah, the ultra honest Saudis wouldn't touch anything dodgy.......

[fizzmiss] 27/2/2021 11:56

Pending what the fine is and what happens in June?

[petrich] 27/2/2021 10:39

We bid for 10$ billion of work in Saudi and didnt get a sniff so the sooner this is all over the better....

[petrich] 27/2/2021 10:37

This is quite old but has all the details.....

hxxps://www.constructionweekonline.com/business/169225-former-petrofac-senior-exec-pleads-guilty-to-epc-contract-bribery-oil-projects-in-saudi-arabia-iraq

[petrich] 27/2/2021 10:33

The average case time someone said was 4 years and 7 months so we arent near it yet but with the change in evidence gathering this could be wrapped anything.

Personally with his directions hearing on 21st June I dont expect to have any news before then. Fir interest a directions hearing is when a judge holds a review the case and consider whether there needs to be further information or action taken by the parties, Cafcass or anyone else.......

I guess it depends on your timescale but it cant go on forever so getting some of these shares with a good SFO out come has got to massively swing the odds in your favour.....