A former governor of Nigeria's oil-rich Delta state pleaded guilty in a
British court Monday to charges of money-laundering, conspiring to
defraud and obtaining a money transfer by fraud, officials said.
James Ibori, 49, entered his plea at Southwark Crown Court. He is to be sentenced on April 16.
Paul Whatmore of the Metropolitan Police Proceeds of Corruption Unit
said Ibori's guilty pleas capped an inquiry which began in association
with Nigerian anti-corruption investigators in 2005. Ibori was immune
from prosecution in Nigeria between 1999 and 2007 when he was serving as
governor of Bayelsa state, police said.
"We will now be actively seeking the confiscation of all of his stolen
assets so they can be repatriated for the benefit of the people of Delta
state," Whatmore said.
Tuesday, March 13, 2012
BP 'ready for long court battle over Gulf spill'
BP chief executive Bob Dudley said the company is able to fight a
lengthy court battle over the 2010 oil spill in the Gulf of Mexico.
Dudley, who took control of BP in October 2012 after former chief executive Tony Hayward resigned amid criticism over the way he had handled the oil spill, told the Sunday Telegraph that BP can continue to function even if the court case that begins in New Orleans today continues for years.
"We have to remember we are a business that invests in decade-long cycles," he said.
"For the vast majority of people now at BP, the company is back on its feet and it is starting to move forward," he said.
BP has set aside US$40 billion to deal with fines and associated costs of the April 20, 2010 blowout of BP's deepwater Macondo well which killed 11 workers and injured 17. The burning drilling rig Deepwater Horizon toppled and sank to the Gulf floor, where it sits today.
It took engineers 85 days to permanently cap the well.
By then, more than 750 million litres of oil leaked from the well and had covered much of the northern half of the Gulf of Mexico endangering fisheries, killing marine life and shutting down offshore oil drilling operations.
President Barack Obama called the BP spill "the worst environmental disaster the nation has ever faced."
Dudley said BP had improved safety standards on its rigs, five of which are working again in the Gulf of Mexico, and that the company was still committed to deepwater drilling.
"We had a choice whether or not to back away from the offshore industry and the deep water industry but we have a lot of great strengths in this area and so, rather than move away, we have gone in with even more commitment, more time and more people, more expertise," he said.
Dudley, who took control of BP in October 2012 after former chief executive Tony Hayward resigned amid criticism over the way he had handled the oil spill, told the Sunday Telegraph that BP can continue to function even if the court case that begins in New Orleans today continues for years.
"We have to remember we are a business that invests in decade-long cycles," he said.
"For the vast majority of people now at BP, the company is back on its feet and it is starting to move forward," he said.
BP has set aside US$40 billion to deal with fines and associated costs of the April 20, 2010 blowout of BP's deepwater Macondo well which killed 11 workers and injured 17. The burning drilling rig Deepwater Horizon toppled and sank to the Gulf floor, where it sits today.
It took engineers 85 days to permanently cap the well.
By then, more than 750 million litres of oil leaked from the well and had covered much of the northern half of the Gulf of Mexico endangering fisheries, killing marine life and shutting down offshore oil drilling operations.
President Barack Obama called the BP spill "the worst environmental disaster the nation has ever faced."
Dudley said BP had improved safety standards on its rigs, five of which are working again in the Gulf of Mexico, and that the company was still committed to deepwater drilling.
"We had a choice whether or not to back away from the offshore industry and the deep water industry but we have a lot of great strengths in this area and so, rather than move away, we have gone in with even more commitment, more time and more people, more expertise," he said.
British arms-to-Iran suspect faces Texas court
A retired British businessman is to appear in a federal court in El Paso
after being extradited last week on charges that he tried to sell
missile batteries to Iran in 2006.
Christopher Tappin turned himself in Friday after fighting extradition from the United Kingdom for two years. Two other men were sentenced in 2007 to 20 and 24 months in federal prison for their roles in the scheme.
The 65-year-old Tappin was denied a final appeal of his extradition last month and delivered to El Paso by federal marshals. His deportation sparked a debate in the U.K. over whether British and American citizens are treated equally under the two countries' extradition treaty.
Don Cogdell, Tappin's attorney in Texas, said he plans to aggressively push to have Tappin granted bail.
Christopher Tappin turned himself in Friday after fighting extradition from the United Kingdom for two years. Two other men were sentenced in 2007 to 20 and 24 months in federal prison for their roles in the scheme.
The 65-year-old Tappin was denied a final appeal of his extradition last month and delivered to El Paso by federal marshals. His deportation sparked a debate in the U.K. over whether British and American citizens are treated equally under the two countries' extradition treaty.
Don Cogdell, Tappin's attorney in Texas, said he plans to aggressively push to have Tappin granted bail.
Tuesday, March 6, 2012
Indianapolis Business Litigation Law Firm
Whether they be fast-moving injunction proceedings or complex partnership disputes, clients bring their high-stakes business disputes to us.
Contract Disputes
Contract disputes are perhaps the most common form of disputes in business litigation. Ideally, every contract would be in writing and well-drafted. However, not all contracts are in writing, and even those that are written may not be well-drafted, leaving some issues unclear or not addressed at all. Often contract disputes involve these and other complex factual and legal issues. That’s where our commercial litigation attorneys excel.
Riley Bennett & Egloff Law is an Indianapolis based Business Litigation Law Firm and has expertise in resolving hundreds of contract disputes through negotiation, mediation, and litigation. Whether your disputes are simple or complex, their experience consistently guides their approach to successfully help resolve the matter in the careful manner it deserves. Visit www.rbelaw.com for more information.
Contract Disputes
Contract disputes are perhaps the most common form of disputes in business litigation. Ideally, every contract would be in writing and well-drafted. However, not all contracts are in writing, and even those that are written may not be well-drafted, leaving some issues unclear or not addressed at all. Often contract disputes involve these and other complex factual and legal issues. That’s where our commercial litigation attorneys excel.
Riley Bennett & Egloff Law is an Indianapolis based Business Litigation Law Firm and has expertise in resolving hundreds of contract disputes through negotiation, mediation, and litigation. Whether your disputes are simple or complex, their experience consistently guides their approach to successfully help resolve the matter in the careful manner it deserves. Visit www.rbelaw.com for more information.
Robbins Geller Rudman & Dowd LLP Files Class Action
Robbins Geller Rudman & Dowd LLP today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of CNOOC Limited American Depositary Shares (“ADSs”) during the period between January 27, 2011 and September 16, 2011.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/cnooc/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges CNOOC and certain of its officers and directors with violations of the Securities Exchange Act of 1934. CNOOC is China’s biggest offshore state oil company. CNOOC co-owns the Penglai 19-3 (“PL 19-3”) oilfield in northern Bohai Bay with ConocoPhillips China Inc. (“ConocoPhillips”) as its operator.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and financial results. As a result of defendants’ false statements, CNOOC’s ADSs traded at artificially inflated prices during the Class Period, reaching a high of US$270.64 per ADS on April 4, 2011.
On June 4, 2011, an oil spill occurred at the PL 19-3 oilfield. A second spill occurred at the PL 19-3 oilfield on June 17, 2011. The complaint alleges that CNOOC and ConocoPhillips failed to disclose the spills when they occurred. However, despite CNOOC’s attempts to conceal the news, news of the spills began to leak into the market. On July 5, 2011, the State Oceanic Administration (“SOA”), China’s coastal regulator, officially acknowledged the spills had occurred. Thereafter, CNOOC downplayed the extent of the damage done by the oil spills and the impact it would have on CNOOC’s operations. On September 2, 2011, the SOA announced that it had ordered CNOOC and ConocoPhillips to immediately suspend all oil production at the PL 19-3 oilfield. On September 6, 2011, it was announced that CNOOC and ConocoPhillips would establish a Bohai Bay fund to address the environmental impact of the oil spills. On this news, CNOOC’s ADSs declined US$9.39 per ADS on September 6, 2011. Then, on September 18, 2011, it was announced that CNOOC and ConocoPhillips would establish a second Bohai Bay fund. On this news, CNOOC’s ADSs declined another US$6.85 per ADS on September 19, 2011.
According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) the Company was not in compliance with environmental laws and regulations; (b) as news of the oil spills emerged, the Company concealed the extent and severity of the oil spills; (c) as news of the oil spills emerged, the Company downplayed its responsibility to effect the cleanup of the oil spills as it portrayed itself as being the “non-operator” of the oilfield; (d) the Company improperly accounted for its contingent liabilities in violation of Generally Accepted Accounting Principles; and (e) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s operations and its expected oil production.
Plaintiff seeks to recover damages on behalf of all purchasers of CNOOC ADSs during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
www.rgrdlaw.com
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/cnooc/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges CNOOC and certain of its officers and directors with violations of the Securities Exchange Act of 1934. CNOOC is China’s biggest offshore state oil company. CNOOC co-owns the Penglai 19-3 (“PL 19-3”) oilfield in northern Bohai Bay with ConocoPhillips China Inc. (“ConocoPhillips”) as its operator.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and financial results. As a result of defendants’ false statements, CNOOC’s ADSs traded at artificially inflated prices during the Class Period, reaching a high of US$270.64 per ADS on April 4, 2011.
On June 4, 2011, an oil spill occurred at the PL 19-3 oilfield. A second spill occurred at the PL 19-3 oilfield on June 17, 2011. The complaint alleges that CNOOC and ConocoPhillips failed to disclose the spills when they occurred. However, despite CNOOC’s attempts to conceal the news, news of the spills began to leak into the market. On July 5, 2011, the State Oceanic Administration (“SOA”), China’s coastal regulator, officially acknowledged the spills had occurred. Thereafter, CNOOC downplayed the extent of the damage done by the oil spills and the impact it would have on CNOOC’s operations. On September 2, 2011, the SOA announced that it had ordered CNOOC and ConocoPhillips to immediately suspend all oil production at the PL 19-3 oilfield. On September 6, 2011, it was announced that CNOOC and ConocoPhillips would establish a Bohai Bay fund to address the environmental impact of the oil spills. On this news, CNOOC’s ADSs declined US$9.39 per ADS on September 6, 2011. Then, on September 18, 2011, it was announced that CNOOC and ConocoPhillips would establish a second Bohai Bay fund. On this news, CNOOC’s ADSs declined another US$6.85 per ADS on September 19, 2011.
According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) the Company was not in compliance with environmental laws and regulations; (b) as news of the oil spills emerged, the Company concealed the extent and severity of the oil spills; (c) as news of the oil spills emerged, the Company downplayed its responsibility to effect the cleanup of the oil spills as it portrayed itself as being the “non-operator” of the oilfield; (d) the Company improperly accounted for its contingent liabilities in violation of Generally Accepted Accounting Principles; and (e) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s operations and its expected oil production.
Plaintiff seeks to recover damages on behalf of all purchasers of CNOOC ADSs during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
www.rgrdlaw.com
Houston Auto Accident & Insurance Claims Law Firm
If you've been involved in an auto accident caused by speeding, drunk driving (DWI), unsafe lane changes, following too closely, running red lights & stop signs, reckless truck drivers, or any other cause, we ask you to keep the following in mind: Insurance companies are in the business of making money, not paying policies. If the insurance company is giving you the run-around, call The Salazar Law Firm today.
If you've been injured in an accident, your claim may be significantly weakened if you don't take the right steps. Get medical treatment for your pain and injuries as soon as possible. Insurance companies pay close attention to “lapses in treatment” and whether or not you sought treatment immediately after the accident happened.
The Salazar Law Firm is a Houston based firm that has expertise in defending clients facing auto accidents and insurance claims. Their attorneys understand the physical, emotional, and financial burden an car accident or personal injury can be on an individual and their families. Their goal is to lessen the stress for their clients by managing the complex procedures with insurance companies, medical facilities, and opposing insurance defense lawyers. They have the experience you need and give the attention you deserve. Visit http://www.hurtinhouston.com for more information.
If you've been injured in an accident, your claim may be significantly weakened if you don't take the right steps. Get medical treatment for your pain and injuries as soon as possible. Insurance companies pay close attention to “lapses in treatment” and whether or not you sought treatment immediately after the accident happened.
The Salazar Law Firm is a Houston based firm that has expertise in defending clients facing auto accidents and insurance claims. Their attorneys understand the physical, emotional, and financial burden an car accident or personal injury can be on an individual and their families. Their goal is to lessen the stress for their clients by managing the complex procedures with insurance companies, medical facilities, and opposing insurance defense lawyers. They have the experience you need and give the attention you deserve. Visit http://www.hurtinhouston.com for more information.
Calif. jury awards $167M in sexual harassment suit
A Northern California jury has awarded $167 million to a former hospital employee who claimed in a lawsuit that she was sexually harassed at work and fired after she repeatedly complained.
The federal court jury found Sacramento's Mercy General Hospital and its parent, Catholic Healthcare West, liable on Wednesday for $125 million in punitive damages and $42.7 million in compensation for lost wages and mental anguish in the lawsuit filed by Ani Chopourian.
The 45-year-old Chopourian - a surgical physician's assistant - said she was subject to unwanted sexual advances and touching and sexual conversations among physicians and staff while working at Mercy from 2006 to 2008.
She alleged in her lawsuit against the hospital that she was fired for repeatedly complaining about sexual harassment.
Hospital officials say she was fired for misconduct, and they will appeal.
The federal court jury found Sacramento's Mercy General Hospital and its parent, Catholic Healthcare West, liable on Wednesday for $125 million in punitive damages and $42.7 million in compensation for lost wages and mental anguish in the lawsuit filed by Ani Chopourian.
The 45-year-old Chopourian - a surgical physician's assistant - said she was subject to unwanted sexual advances and touching and sexual conversations among physicians and staff while working at Mercy from 2006 to 2008.
She alleged in her lawsuit against the hospital that she was fired for repeatedly complaining about sexual harassment.
Hospital officials say she was fired for misconduct, and they will appeal.
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