Schedule 13D

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No.  )*

Corriente Resources Inc.
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
22027E409
(CUSIP Number)
Jean-François Joly
Credit Industriel et Commercial
6 avenue de Provence
75009 Paris, France
+33 1 45 96 90 72
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
February 8, 2010
(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 

                     
CUSIP No.
  
22027E409 
  

 

           
1   NAMES OF REPORTING PERSONS

Credit Industriel et Commercial
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY
   
   
     
4   SOURCE OF FUNDS (SEE INSTRUCTIONS)
   
  PF
     
5   CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  France
       
  7   SOLE VOTING POWER
     
NUMBER OF   7,782,900
       
SHARES 8   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   Nil
       
EACH 9   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   7,782,900
       
WITH 10   SHARED DISPOSITIVE POWER
     
    Nil
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  7,782,900
     
12   CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
  10.3%*
     
14   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  BK
* Based on a total number of Corriente Resources Inc. shares outstanding of 75,349,893 as of the Issuer’s quarterly financial statement dated September 30, 2009.

Page 2 of 5

 

                     
CUSIP No.
  
22027E409 
  
Item 1. Security and Issuer
This statement on Schedule 13D (this “Statement”) relates to common stock, no par value (the “Common Stock”), of Corriente Resources Inc. (the “Issuer”) with its principal executive office located at 520-800 West Pender Street Vancouver, B.C. V6C 2V6, Canada.
Item 2. Identity and Background
(a) This Statement is filed by and on behalf of Credit Industriel et Commercial (“CIC”).
(b) — (c)
CIC is a French authorized bank. Our address is 6 avenue de Provence, 75009 Paris, France.
(d) — (e)
We have not, during the past five years, (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which we are or were subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding a violation in respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
3,863,500 of the shares were acquired pursuant to a stock loan agreement by and between CIC and Cigogne Management S.A. (“Stock Loan Agreement”) and 3,919,400 of the shares were acquired in market purchases.
References to, and descriptions of, the Stock Loan Agreement set forth herein are qualified in their entirety by reference to the copy of the Stock Loan Agreement included as Exhibit 1 to this Statement, which is incorporated by reference herein in its entirety where such references and descriptions appear.

 

Page 3 of 5

 

                     
CUSIP No.
  
22027E409 
  
Item 4. Purpose of Transaction
The shares were purchased for investment purposes and were not acquired with the purpose or intent of changing or influencing the control of the Issuer.
Except as stated above, there are no plans or proposals of the type referred to in clauses (a) through (j) of Item 4 of Schedule 13D, as promulgated by the Securities and Exchange Commission.
Item 5. Interest in Securities of the Issuer
(a) As of the date of this Schedule 13D, CIC is the beneficial owner of 7,782,900 shares of Common Stock constituting approximately 10.3% of the total issued and outstanding shares of Common Stock of the Issuer.
(b) As of the date of this Schedule 13D, CIC may be deemed to hold sole power to vote and to dispose of the 7,782,900 shares of Common Stock of the Issuer as described in (a) above.
(c) Transactions made by CIC in the Common Stock of the Issuer in the past 60 days from the date of this Schedule 13D are attached as Exhibit 2.
(d) No person other than CIC is known to have the right to receive, or the power to direct the receipt of, dividends from, or proceeds from the sale of, the shares of Common Stock of the Issuer reported in this Schedule 13D.
(e) CIC intends to dispose of 7,782,900 shares of Common Stock of the Issuer on or about March 25, 2010. Subsequent to the disposition, CIC will beneficially own no shares of Common Stock of the Issuer.
Item 6. Contracts, Arrangement, Understandings or Relationships with Respect to Securities of the Issuer
Stock Loan Agreement by and between CIC and Cigogne Management S.A.
Item 7. Material to be Filed as Exhibits.
Exhibit 1: Stock Loan Agreement by and between CIC and Cigogne Management S.A.
Exhibit 2: Transactions made by CIC in the Common Stock of the Issuer in the past 60 days from the date of this Schedule 13D.

 

Page 4 of 5

 

                     
CUSIP No.
  
22027E409 
  
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct.
Dated: March 24, 2010
         
CREDIT INDUSTRIEL ET COMMERCIAL
 		    
By:   /s/ Jean-François Joly      
  Name:   Jean-François Joly     
  Title:   Head of Legal and Tax Department     
 

 

Page 5 of 5