Stolt-Nielsen loses Supreme Court appeal
WASHINGTON (Bloomberg) —- Stolt-Nielsen SA, a tanker operator fighting US price-fixing charges, lost a bid at the nation’s highest court to stop the criminal case from going forward.The Supreme Court made no comment yesterday in rejecting an appeal from the London-based company, which says it is shielded from prosecution by a 2003 immunity agreement with the Justice Department’s antitrust division.
The high court rejection is the second in little more than two months for Stolt-Nielsen, which is accused of taking part in a conspiracy to fix rates for trans-oceanic chemical shipments.
The September 6 indictment of the company and two former executives came after the Supreme Court refused to order the government not to seek charges.
Stolt-Nielsen still can ask a federal trial judge in Philadelphia to dismiss the indictment on the basis of the immunity agreement.
The appeal rejected yesterday took a different approach, aiming to revive another trial judge’s order that at one point barred any indictment.
The Philadelphia-based 3rd US Circuit Court of Appeals overturned that ruling in March.
Stolt-Nielsen’s Supreme Court appeal drew support from groups including the U.S. Chamber of Commerce and the National Association of Manufacturers.
The Justice Department revoked the immunity agreement in 2004, saying Stolt-Nielsen misled prosecutors about the duration of its involvement in the alleged conspiracy.
The case is Stolt-Nielsen v. United States, 06-97.
