ERHC Energy Inc (ERHE)

[Meridian]

Swiss had to comply with the EU savings directive. the swiss had to choose between either disclosure of beneficial ownership (lifting bank secrecy) or levy withholding tax.

The reason that had to give in is simple. They were hijacked by the EU; Cooperate or we freeze all the swiss banks EU assets. A similar strategy was adopted by the US in the late nineties on some file.