Stolt-Nielsen Appeal Fails in Supreme Court

Wednesday, July 26, 2006
U.S. Supreme Court Justice David Souter on July 25 rejected an emergency appeal from Stolt-Nielsen SA to freeze the Justice Department's pursuit of antitrust charges against it. Stolt-Nielsen has challenged the power of government prosecutors to revoke an amnesty agreement shielding it from prosecution over an alleged plot to divvy up customers in the parcel shipping business, which involves the transport of bulk liquids such as chemicals. The company's emergency petition asked the U.S. Supreme Court to bar lower court proceedings against it and a U.S.-based executive, Richard Wingfield, while a separate appeal to the Supreme Court on underlying legal issues was pending. Souter, acting for the court, turned away that request. In filings with the court, the company said the uncertainty is weighing on the company's business. According to The Associated Press, Stolt-Nielsen's stock price has dropped 37 percent since a federal appeals court ruled against in March 2006. The Justice Department, in its own Supreme Court filing, said it revoked the amnesty deal because it believes the company didn't hold up its part of the amnesty deal. Amnesty was revoked in March 2004 and the matter has been in litigation since then. A panel of the 3rd U.S. Circuit Court of Appeals in Philadelphia in March ruled that federal courts didn't have the power to block government prosecutors from pursuing the company and its officers because of the amnesty deal. The ruling overturned a decision by a U.S. District Court judge, who said the deal barred indictments. The Justice Department began investigating Stolt-Nielsen in November 2002 after The Wall Street Journal published a story about a lawsuit brought by the company's former general counsel alleging Stolt-Nielsen Transportation Group Ltd. had broken anti-collusion laws. The company's second appeal with the Supreme Court will be considered this fall when the justices return from summer recess. (Source: The Associated Press)
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Refiners Seek Jones Act Workarounds as Crude Export Debate Heats Up

As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that

China Rejects Manila Protests, Laments Detentions

China rejected Philippine complaints on Wednesday about Chinese survey vessels operating in a gas-rich area of Manila's exclusive economic zone, and has lodged

Lukoil Shipped Canadian Crude from Houston

Russian oil major Lukoil has emerged as one of the first companies to buy Canadian crude re-exported from a U.S. port, shipping one cargo last month to its refinery in Augusta,

Container Ships

Containership Cleared of Ebola Risk

Containership Hammonia Pacificum has been cleared of Ebola risk at the Port of Ricahrd Bay after being stopped previously at several West African ports, according

VSTEP Delivers FMB Simulator to Danaos

Danaos Corporation purchased a NAUTIS DNV Class A FMB Simulator and Instructor Station for training of its fleet members.  The simulator will be delivered and installed

Doosan Delivers a ‘World’s First’ to NASSCO

Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.5523 sec (2 req/sec)