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Marine Log

October 30, 2006

Supreme Court turns down Stolt-Nielsen appeal

The Supreme Court today refused to hear Stolt-Nielsen S.A., et al., v. U.S. .

Stolt Nielsen was seeking to challenge the government's power to prosecute a corporation that had previously been granted immunity in exchange for its cooperation in an antitrust investigation.

Today's denial of Stolt-Nielsen's appeal came after an August 21 refusal by the Supreme Court to block prosecution in the case.

Stolt-Nielsen S.A. issued the following statement by James B. Hurlock, an outside director and Chair of Stolt-Nielsen's Board of Directors' Legal Affairs Committee:

"Today, the Supreme Court of the United States declined the opportunity to review the Third Circuit's ruling that, based on the Separation of Powers doctrine, Stolt-Nielsen must be indicted before it can seek to enforce its rights under its Amnesty Agreement with the Department of Justice. Nevertheless, the Third Circuit also ruled that Stolt-Nielsen is indisputably entitled to seek dismissal of an indictment once one is brought. The company and two individuals from the company were indicted last month. Stolt-Nielsen has already proved once that it is entitled to the amnesty it was promised, and now intends to do so again in the form of a motion to dismiss the indictment. The company plans to file its motion to dismiss the indictment on November 22nd in accordance with the scheduling order issued by the United States District Court for the Eastern District of Pennsylvania. As we have said previously, it is critical for the Justice Department to honor the solemn promises it makes."

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