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SETTLEMENT AGREEMENT
This settlement agreement (the "Settlement Agreement") with respect to ENF -is made by and between the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and SCG Plastics Co., Ltd. ("SCG Plastics").
I. PARTIES
OFAC administers and enforces economic sanctions against targeted foreign countries, regimes, terrorists, international narcotics traffickers, and proliferators of weapons of mass destruction, among others. OFAC acts under Presidential national emergency authorities, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under U.S. jurisdiction.
SCG Plastics is a trading company headquartered in Bangkok, Thailand that purchased, marketed, and sold plastic resin products manufactured by subsidiaries and affiliates of its parent company, SCG Chemicals Co., Ltd. ("SCG Chemicals"). SCG Plastics is currently in the process of liquidation under the laws of Thailand.
Thai Polyethylene Co., Ltd. ("TPE") is...
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1) See comments to Enforcement Release: SCG Plastics Co., Ltd. for consolidated commentary on the enforcement release and this associated settlement agreement.