The Independent: Ex-Shell chairman loses case against watchdog
“Sir Philip, who was sacked in disgrace last year after the scandal broke…”: “Shell has agreed to foot the legal costs of former directors dismissed over the scandal and last year provided $12m in expenses.”
Wednesday 14 Sept 2005
By Michael Harrison, Business Editor
Published: 14 September 2005
The former Shell chairman Sir Philip Watts suffered a blow to his attempts to clear his name yesterday after a tribunal ruled that the Financial Services Authority had not prejudiced him in a damning report into the oil giant’s misreporting of reserves.
Sir Philip, who was sacked in disgrace last year after the scandal broke, had argued that the FSA was under a duty to show him a copy of its report in advance and give him a chance to respond before publication.
His counsel also argued that the damage to Sir Philip’s reputation had been magnified by the fact that he was under investigation by the FSA when the report was published last August and remains so today.
The FSA responded that because Sir Philip was not referred to by name in its notice, it was under no such obligation to give him a right of reply. The Financial Services and Markets Tribunal ruled in the FSA’s favour, saying it found that Sir Philip “was not identified and prejudiced” by the FSA’s notice.
The FSA imposed a fine of £17m on Shell, the largest in its history, for incorrectly booking 4.3 billion barrels of oil reserves as proven when they were not. The US Securities and Exchange Commission imposed an even bigger civil penalty of $120m (£66m).
The FSA said it welcomed the clarification of the law in relation to the rights of third parties but declined to comment further. Jeremy Sandelson, the head of the litigation practice at the law firm Clifford Chance, described the tribunal’s ruling as “a great result for the FSA”.
A statement issued by Sir Philip’s legal advisers, Herbert Smith, said he was disappointed by the ruling and was giving it careful consideration. “He will continue to fight to clear his name and believes that he will be vindicated if any proceedings are instituted against him,” it added.
Shell has agreed to foot the legal costs of former directors dismissed over the scandal and last year provided $12m in expenses.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
