Daily Telegraph: Watchdog fights Shell complaint: “The Financial Services Authority is trying to persuade an independent tribunal to throw out an appeal against it by Sir Philip Watts, the former Shell chief who resigned over the company's oil and gas reserves scandal.” (ShellNews.net)

By Christopher Hope (Filed: 19/10/2004)

The Financial Services Authority is trying to persuade an independent tribunal to throw out an appeal against it by Sir Philip Watts, the former Shell chief who resigned over the company's oil and gas reserves scandal. 

Last month, Sir Philip complained to the Financial Services and Markets Tribunal that his rights had been violated after the FSA imposed a £17m fine for Shell's overstatement of its reserves.

The FSA has now asked the same body to rule on "the preliminary issue of whether Sir Philip was, as he alleges, identified and prejudiced" by its ruling, in August.

The watchdog said: "We are confident that he was not and that the tribunal will agree with us. This would mean that the tribunal will have no jurisdiction to consider the other matters which Sir Philip has referred to the tribunal."

Sir Philip also felt he should have been allowed to see the FSA's findings before they were published. Last night, his lawyer said he had "nothing to add at this time".

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/10/19/cnshell19.xml