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 Amnesty was revoked in March 2004 and the matter has been in litigation since then.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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Vessel Discharge Amendment Push Continues

AWO voices strong opposition to McCain anti-Jones Act amendment   The American Waterways Operators (AWO) is continuing an intensive lobbying campaign to bring

NATO Launches Sea Mission Against People-Smugglers

NATO, EU mission to help target traffickers in Aegean Sea. NATO ships are on their way to the Aegean Sea to help Turkey and Greece crack down on criminal networks smuggling refugees into Europe,

Greeks at Frontline of Migrant Crisis Angry at EU Critics

ABOARD THE AGIOS EFSTRATIOS, Aegean Sea, Feb 11: Greek Captain Argyris Frangoulis lifts his binoculars and with eyes fixed on the Aegean Sea horizon, steers his

Container Ships

Adani Ports Income Up by 15%

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter

Shipping Corporation Q3 Profit Surges

The Shipping Corporation of India (SCI) declared its unaudited financial results for the quarter ended 31st December 2015 posting a net profit of Rs. 59.66 crores as against a net profit of Rs.

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0867 sec (12 req/sec)