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What happens if a fine is greater than the value of a multi-national company's operations in a country? As $4.2 billion is ~10% of UBS's market cap, does UBS de
by laser 8y ago
What happens if a fine is greater than the value of a multi-national company's operations in a country? As $4.2 billion is ~10% of UBS's market cap, does UBS derive more than 10% of its value from within France? If not, might they just abandon operations in the country for the government to seize and avoid paying the fine, or would EU or international-level agreements or courts enforce payment? Anyone know of any precedent regarding such a scenario?
- foepys 8y agoThey'd most likely request European Arrest Warrants for the CEO and most board members and seize all French assets. Then they'd go for the assets in all other EU countries.
- forty 8y agoIf I owed you money and flee in another country, can't you generally sue me in that other country to get your money back?
- ovi256 8y agoCourt orders can, and are, routinely enforced in other countries. The interested agent goes to country B courts with a decision from country A and asks for a local enforcement order. When granted, this has the same power as a court order from country B. Even if UBS decides to abandon all assets in France and never do business there again, agents of the French state can get the fine from UBS assets in other countries.