The beginning of the end for the Nigerian Barge prosecution?

Tom Kirkendall breaks the story of the Fifth Circuit's sua sponte release of Nigerian Barge defendant, Merrill Lynch executive William Fuhs pending appeal. Release was earlier denied, but now has been ordered only two weeks after oral argument, thus signaling possible reversal on appeal.

Peter Lattman echoes Tom's analysis and links to his copy of the court's order.

Tom deserves more credit for, as usual, being the first and best with news and analysis of this case. Looks like it may be time to review his exhaustive previous posts, collected here.

A reversal in this case could

--confirm the existence of prosecutorial misconduct, including effectively denying defendants access to key witnesses, which could threaten the trial of Lay and Skilling.

--confirm doubts Tom and I and others have expressed about the strength of the prosecution's evidence in the Nigerian Barge case.

--indirectly support doubts about the circumstantial evidence case the prosecution is attempting to make against Lay and Skilling.

--raise general questions about the whole costly and questionable government effort to ramp up corporate criminal liability in the wake of Enron.

So, stay tuned.