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Fifth Circuit Denies Rehearing In Nigerian Barge Case

Law360 (October 23, 2006, 12:00 AM EDT) -- In a blow to federal prosecutors, an appeals court has refused to reverse its decision to toss the convictions of four Merrill Lynch & Co. executives implicated in the Enron Corp.-related Nigerian barge case.

The U.S. Court of Appeals for the Fifth Circuit denied a government request for a rehearing en banc of the case, upholding the August decision by a three-judge panel that overturned the executives’ convictions.

The court had overturned the wire fraud and conspiracy convictions of Daniel Bayly, head of Merrill’s Global Investment...
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