By Martin Simons: Published: October 27 2006 03:00 | Last updated: October 27 2006 03:00
From Mr Martin E. Simons.
Sir, John Plender’s article on US litigation against BP executive directors (“America’s litigation habit threatens to spread”, October 20) and Jon Moynihan’s letter (October 24) should be compulsory reading for Dutch, US and UK fund managers and private shareholders everywhere.
I raised the issue of Dutch and US pension funds suing Royal Dutch Shell directors about energy reserve misstatements at the company’s recent annual meeting where I suggested that shareholders should consider launching class actions against relevant US lawyers. Even better, BP and Shell should announce that if the plaintiffs were successful pro rata payments would be made to all shareholders.
Apart from the cost of defending BP’s officers there are substantial opportunity costs. BP has enough on its plate without being troubled by vexatious litigation. It is troubling that the trustees of the London Pensions Fund Authority appear to be supporting this legal action (report, October 10). The authority reports to Ken Livingstone, London’s mayor, who will presumably take cognisance of the distaste of their action.
Mr Plender raises another vital matter – the danger of US-type board structure creeping into UK quoted companies. The huge preponderance of non-executive directors at US companies has not prevented a rash of financial scandals, while predated share options are harming US corporate governance.
Martin E. Simons,
London SW15 6HJ
Copyright The Financial Times Limited 2006
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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.
