Enhanced due diligence on a publicly listed company and one of its directors in East Africa
Read moreThe challenge:
A global commodities trader via its law firm was preparing to take legal action against a grain provider in Egypt that had defaulted on payments. We were engaged to identify the subject company’s background and track record, its network of associations and ultimately its assets in Egypt and further afield.
The solution:
By undertaking some initial human source-based intelligence work, we identified a number of former customers and partners who had purchased from them in the past. A consistent story emerged of the subject company’s failure to deliver on contracts, low quality goods and poor levels of integrity. The sources also revealed the company’s links to the Egyptian military and the intelligence services in particular, as well as the provincial governor where they were based, although the company was since blacklisted as a government supplier and their accounts closed by their banks. We also identified an associated company in one of the freezones of the UAE, which was involved in a labour dispute in the Dubai Courts due to non-payment of salaries. Based on the sources’ comments as well as our own searches, we identified a large parcel of land (with details of plot numbers, sizes and locations) owned by the subject company in one of the owner’s home town.
The result:
All of this information was invaluable to the client and enabled them to shape their legal strategy accordingly.
