We are currently restructuring our databases, so be advised that the FCPAC database is updated only through July 30, 2025.

Processing your request


please wait...

 | Investigations Dataset

Stanford Foreign Corrupt Practices Act Clearinghouse a Collaboration with Sullivan & Cromwell LLP

Investigations Dataset

 
Investigation into Vantage Drilling's Activities in Brazil · Vantage Drilling Company

Information & Summary

Investigation into Vantage Drilling's Activities in Brazil

Related FCPA Matter:   Vantage Drilling's Involvement in Brazil Information

Information & Summary

Investigation Name:    Investigation into Vantage Drilling's Activities in Brazil

Trend:    Petrobras

Type of investigation:    Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation:    Unknown

Whistleblower:    Unknown

Summary

Vantage Drilling Company (“VDC”) was a Cayman Islands corporation headquartered in Houston, Texas. Prior to the initiation of liquidation proceedings in December 2015, VDC's common stock was registered with the SEC and traded on the New York Stock Exchange Market.

Vantage Drilling International (“Vantage Drilling”) was an offshore drilling company headquartered in Houston, Texas and organized under the laws of the Cayman Islands. Until February 2016, Vantage was a subsidiary of VDC. It now owns and controls all of the tangible assets and operations of VDC and is VDC's successor in interest.

Petroleo Brasileiro SA ("Petrobras") was Brazil's state-owned oil and gas company.

In July 2015, VDC learned through press reports that the Brazilian Agent the company used in the contracting of the Titanium Explorer drillship, Hamylton Padilha, had entered into a plea agreement with Brazilian authorities in connection with bribes that were paid to certain former Petrobras executives. In the plea agreement, Padilha implicated Hsin-Chi Su, who at the time was a member of the board of directors and a significant shareholder of Vantage Drilling, in a bribery scheme with the Petrobras officials. Upon learning of the allegations, Vantage Drilling hired outside counsel to institute an internal investigation and contacted the DOJ and SEC to inform them of developments in the matter. Furthermore, in light of the Petrobras allegations, Vantage Drilling also reopened and disclosed to the DOJ and SEC a previous internal investigation into possible improper payments in Asia. That prior investigation had turned up no wrongdoing by the company.

In an 8-K filed on August 16, 2017, Vantage Drilling announced that the DOJ had closed its investigation into the company and acknowledged the company's full cooperation.

On November 19, 2018, the SEC filed a cease and desist order against Vantage Drilling.

Protected Content


Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.

When you sign up, you will have the option to save your search queries performed on the Advanced Search form.