Mayer, Brown, Rowe & Maw LLP Engaged by Audit Committee of Global Industries, Ltd. to Conduct Internal Investigation Implicating U.S. Foreign Corrupt Practices Act
3 July 2007
3 July 2007 -- Mayer, Brown, Rowe & Maw LLP has been engaged by the audit committee of the board of directors of Global Industries, Ltd. (Nasdaq: GLBL) to assist in conducting an internal investigation of its West Africa operations, focusing on the legality under the U.S. Foreign Corrupt Practices Act (FCPA) and local laws, of one of its subsidiary's reimbursement of certain expenses incurred by a customs agent in connection with shipments of materials and the temporary importation of vessels into West African waters. The Company has voluntarily contacted the U.S. Securities and Exchange Commission and the U.S. Department of Justice to advise them that an independent investigation is under way and that it intends to cooperate fully with both agencies.
Mayer, Brown, Rowe & Maw, an international law firm with significant experience in investigating and advising on FCPA matters, will lead the investigation with a team headed by Partners Paul L. Mitchell (Houston), Claudius O. Sokenu (New York) and counsel Dena Palermo (Houston).
Global Industries provides offshore construction, engineering, project management and support services including pipeline construction, SURF installations, platform installation and removal and diving to the oil and gas industry around the world.
Asst. Dir. of Public Relations