Reuters: Regulatory News: SNC-Lavalin unit barred from World Bank project bids

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SNC-Lavalin unit barred from World Bank project bids Apr 2nd 2012, 19:46 April 2 | Mon Apr 2, 2012 3:46pm EDT April 2 (Reuters) - SNC-Lavalin said on Monday that one of its subsidiaries has been notified by the World Bank that it has been barred temporarily from bidding on new bank projects following an investigation into a Bangladesh bridge project launched last September. The statement comes a week after SNC's chief executive quit and the Quebec-based company handed over documents to Canadian police after an internal investigation into mysterious payments made to projects that did not exist.

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