Trade Resources Market View The Proceedings Were Concluded at The Beginning of August 2012 with a Settlement Agreement

The Proceedings Were Concluded at The Beginning of August 2012 with a Settlement Agreement

The proceedings which have been in progress since 2009 against the US-American guitar manufacturer Gibson Guitar regarding contraventions of the Lacey Act were concluded at the beginning of August 2012 with a settlement agreement. As part of that agreement, Gibson was fined US$300,000 and was ordered to pay a further sum of US$50,000 to the National Fish and Wildlife Foundation. In addition, Gibson also had to hand over ownership rights to ebony wood worth US$261,844 confiscated during raids on the Gibson works in Nashville and Memphis in 2009 and 2011. Gibson also undertook to set up internal structures to improve control of its supplier chain. In return for satisfying those conditions no criminal action will be taken against Gibson.

Source: http://www.euwid-wood-products.com/news/miscellaneous/single/Artikel/gibson-lacey-act-proceedings-concluded.html
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Gibson: Lacey Act Proceedings Concluded
Topics: Construction