About: Veracruz Settlement   Sponge Permalink

An Entity of Type : owl:Thing, within Data Space : 134.155.108.49:8890 associated with source dataset(s)

The Veracruz Settlement marked the end of Operation RECIPROCITY. The Megacorporations negotiated a settlement whereby Aztlan and Aztechnology paid direct compensation to all corporations whose assets were nationalized in 2044. Megacorporations were once again allowed to do business in Aztlan, but only indirectly. Megacorporations can establish local subsidiaries provided that the major shareholders are Aztlaner citizens.

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  • Veracruz Settlement
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  • The Veracruz Settlement marked the end of Operation RECIPROCITY. The Megacorporations negotiated a settlement whereby Aztlan and Aztechnology paid direct compensation to all corporations whose assets were nationalized in 2044. Megacorporations were once again allowed to do business in Aztlan, but only indirectly. Megacorporations can establish local subsidiaries provided that the major shareholders are Aztlaner citizens.
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  • The Veracruz Settlement marked the end of Operation RECIPROCITY. The Megacorporations negotiated a settlement whereby Aztlan and Aztechnology paid direct compensation to all corporations whose assets were nationalized in 2044. Megacorporations were once again allowed to do business in Aztlan, but only indirectly. Megacorporations can establish local subsidiaries provided that the major shareholders are Aztlaner citizens. This means that the largest block of shares has to be owned by the Aztlan government, or an Aztlaner corporation or individual. The other shareholders have to maintain a sufficient distance ("arms-length") in their relationship so that they cannot be added together to form a larger voting block than the Aztlaner entity as if it was held by a single entity. Such an arrangement existed in a corporation in which MCT North America and a subsidiary owned by MCT Australasia owned enough shares (22% and 20%, respectively) that when added together, MCT became the major shareholder. This was determined to be unacceptable by the Corporate Court under the terms of the settlement.
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