Liquidator & Tensa EIP
Lead NCPChile
Supporting NCP(s)Portugal, Spain
DescriptionSpecific instance alleging a non-observance of the OECD Guidelines.
Theme(s)General policies, Disclosure, Human rights
Date9 Jun 2020
Host country(ies)None
SourceOther interested parties
Industry sectorElectricity, gas, steam and air conditioning supply

Read the final statement, published on 18 May 2021: Spanish

On 9 June 2020, the liquidator of the assets of the Chilean subsidiary Tensa EIP Company, representing various creditors, including companies and pension funds, submitted a specific instance with the Chilean NCP alleging that Tensa EIP, an electric company specialising in power lines, had not observed the General Policies (Chapter II), Disclosure (Chapter III), and Human Rights (Chapter IV) provisions of the Guidelines. The issues relate specifically to the liquidation of Tensa EIP Chile and the alleged tranferring of funds abroad in order to reduce net worth and avoid payment obligations to creditors.

The Chilean NCP contacted the Portuguese and Spanish NCPs, which host headquarters of the EIP group, who jointly decided that the specific instance would be led by the Chilean NCP. The Chilean NCP accepted the specific instance for further examination on 20 April 2021 and notified the company twice without receiving a response. Since the company is no longer located in Chile, the NCP has considered its options exhausted, and has therefore decided to conclude the specific instance.

On May 18 2021, the Chilean NCP concluded the specific instance without agreement and issued a final statement. The NCP issued a set of recommendations, including encouraging the cooperation with the NCP proceedings as well as the establishment and maintenance of principles for responsible business conduct within each company and in accordance with the OECD Guidelines. As it was not possible to contact the companies, no follow-up was planned.