CASE STUDY: Dechert Assists Airbus to Reach First Coordinated Global Settlement with the Major UK, French and U.S. Authorities

Dechert represented Airbus SE in a global investigation into allegations of fraud, bribery and corruption, and subsequent coordinated settlements with the UK Serious Fraud Office (SFO), French Parquet National Financier (PNF), U.S. Department of Justice (DOJ) and U.S. Department of State (DOS).

Dechert assisted Airbus with its report to the SFO in April 2016 and played a leading role in devising the global strategy for the investigation and achieving the resulting deferred prosecution agreements (DPAs). The scale and complexity of this case were exceptional, involving a massive volume of data collected on a global basis, taking into account different data control laws, subject to multiple privacy regimes and national blocking statutes multiple languages.

The resulting convention judiciaire d’intérêt public (CJIP), DPAs and Consent Order bring to a close the investigations into alleged bribery and corruption, and non-compliance with International Traffic in Arms Regulations (ITAR). The combined settlement was US$4 billion.

As part of this case, Dechert worked with Airbus’ other advisers, and in consultation with the authorities, to develop and implement an enhanced financial crime compliance program for the company at group level. In approving the US settlement, the UK courts commended Airbus Board for its compliance and remediation efforts, calling Airbus “a changed company”, and noted this as one of the mitigating factors that justified a 50% discount on the penalty payable. Ultimately, Airbus’ compliance efforts allowed the company to avoid the imposition of a corporate monitor in the UK and U.S. Airbus’ General Counsel, John Harrison, has publicly commended the team’s work, commenting that “Dechert’s outstanding team has played a key role, demonstrating remarkable leadership, innovation, expertise and collaboration.”

Dechert continues to represent Airbus in respect of their highest stakes disputes, investigations and business challenges.