“The DPA will come into force only when the High Court approves it after determining that it is in the interests of justice and that its terms are fair, reasonable and proportionate,” reads a statement from the AGC.
Seatrium has finally put the long-drawn corruption case in Brazil behind it. On July 30, just a day before Seatrium was slated to report its 1HFY2025 earnings, it announced it had reached a series of agreements with authorities in both Brazil and Singapore.
To settle “Operation Car Wash”, as the multi-year probe in Brazil was called, Seatrium will pay a total of some $241.7 million. Of the amount, Seatrium will pay the Brazilian authorities R$728.9 million ($168.4 million). However, under the deferred prosecution agreement (DPA), Singapore’s Attorney-General’s Chamber (AGC) will allow Seatrium to take US$53 million ($73.3 million) of the US$110 million to be credited to what it has to pay Brazil.
