Summary
Former Shell chairman Sir Philip Watts yesterday lost a showdown with the City watchdog into how it handled the investigation into the oil giant's reserves crisis. Sir Philip had accused the Financial Services Authority (FSA) of violating his statutory rights by fining Shell a record pounds 17m without giving him a chance to respond.
His case - presented to an independent tribunal - was based on the claim that he was identified and prejudiced by the FSA when it issued a public notice penalising Shell.See the full content of this document
Extract
Ex-Shell Chief Loses Legal Fight
Sir Philip claimed anyone would understa...
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