URGENT: Egypt's annual inflation down to 13.1%    Egypt exports 170K tons of food in one week: NFSA    Egyptian pound starts week steady vs. US dollar    Al-Sisi, Türkiye's FM discuss boosting ties, regional issues    Russia warns of efforts to disrupt Trump-Putin summit on Ukraine    Rift between Netanyahu and military deepens over Gaza strategy    MIDBANK extends EGP 1bn credit facilities to Raya Information Technology    United Bank contributes EGP 600m to syndicated loan worth EGP 6.2bn for Mountain View project    Suez Canal Bank net profits surge 71% to EGP 3.1bn in H1 2025    Madbouly says Egypt, Sudan 'one body,' vows continued support    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt signs vaccine production agreement with UAE's Al Qalaa, China's Red Flag    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt to open Grand Egyptian Museum on Nov. 1: PM    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt, Philippines explore deeper pharmaceutical cooperation    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Egypt, Malawi explore pharmaceutical cooperation, export opportunities    Egypt's Foreign Minister discusses Nile water security with Ugandan president    Egypt, Cuba explore expanded cooperation in pharmaceuticals, vaccine technology    Egyptians vote in two-day Senate election with key list unopposed    Korean Cultural Centre in Cairo launches folk painting workshop    Egyptian Journalist Mohamed Abdel Galil Joins Golden Globe Voting Committee    Egypt's FM, US envoy discuss Gaza ceasefire, Iran nuclear talks    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Ferry owner's assets frozen
Published in Al-Ahram Weekly on 13 - 04 - 2006

The Shura Council has agreed that the assets of Mamdouh Ismail, owner of the ferry Al-Salam 98, should be sequestered pending the outcome of the investigation into the ship's sinking, reports Gamal Essam El-Din
On Tuesday the Shura Council agreed that Mamdouh Ismail, owner of the ferry Al-Salam 98, which sank in the Red Sea on 3 February, be stripped of parliamentary immunity. The request was submitted by Socialist Prosecutor-General (SPC) Gaber Rihan, who stated he was acting upon instructions received from the People's Assembly. Two weeks earlier, on 19 March, the Shura Council had approved a similar request submitted by the justice minister and prosecutor- general.
While the first request allows Ismail to be questioned over the sinking of the ferry, the SPC's submission is aimed at freezing the assets of Ismail and his family.
"The speaker of the People's Assembly, Fathi Sorour, informed me on 22 March that the assembly had approved a request by more than 100 MPs asking that measures aimed at sequestrating the wealth of Ismail and his family should proceed as speedily as possible," said Rihan.
The socialist prosecution-general -- subject to the purview of the People's Assembly -- is the only authority empowered to instigate sequestration procedures.
Rihan explained that in their request MPs had expressed concern that following Ismail's departure from the country it had become a matter of urgency to freeze the assets of the businessman lest he attempt to transfer funds outside Egypt or liquidate his holdings inside the country.
"Ismail's assets should be placed under sequestration until the investigation into the disaster is complete," Rihan cited MPs as saying. MPs also praised the prosecutor-general's decision not to allow Ismail's wife to travel to London two weeks ago.
In response to mounting criticism on Saturday Ismail took a paid advertisement in Al-Ahram in which he claimed the investigation of the ferry's British insurers into the sinking had concluded that the ship was fitted with all necessary safety equipment. The advertisement said the insurers had agreed to distribute insurance money to the ferry's owners which will allow all compensation claims to be settled. Meanwhile, it said Ismail would remain in London to pursue the interests of victims of the disaster.
Ismail's advertisement also cited the cabinet spokesman as saying on 4 April that the captain of the ferry was mostly to blame for the disaster.
In a letter to Shura Council Speaker Safwat El-Sherif, Ismail repeated his claim that he had traveled to London to coordinate with his insurers over compensating victims of the sinking.
"As of this week the families of 40 victims, and another 170 who survived the disaster, have received LE8.5 million in compensation," said Ismail. "At the moment I am in the process of securing an additional LE158 million to cover the outstanding compensation."
Ismail went on to urge the Shura Council to reject the SPC's request, arguing "sequestration will negatively affect tourism in Egypt... My assets, which could face sequestration, include landmark hotels in Cairo and Sharm El-Sheikh."
Reports on the sinking prepared by both the Shura Council and the People's Assembly contradict Ismail's version of events. The two reports state that negligence, a lack of equipment and the tardy response from officials all played a part in the tragedy.
"Negligence and the absence of an appropriate response are not only to blame for the high death toll of the ferry disaster, but also for other recent disasters, including plane and train accidents," said the Shura report.
At Safaga, the report continued, authorities failed to offer support to the families of victims. "As for the Crisis Management Agency (CMA), created by the Council of Ministers to deal with crises and natural disasters, it is itself in a state of crisis."
The report also directed an implicit rebuke to Prime Minister Ahmed Nazif, pointing out that "cabinet ministers declined to visit Safaga to find out what was happening on the ground or the kind of help the families of victims needed".
While the Shura Council report refrained from pointing a finger at those who might be directly responsible for the disaster, the People's Assembly report was less restrained.
The assembly report, prepared by a fact- finding committee, laid the blame on both the captain and the ferry's owners. The report said the captain had failed to follow the necessary safety measures or respond adequately when a fire broke out on the ferry. For its part, the company had failed to provide the ferry with safety facilities, including fire-extinguishing equipment. "There are many questions over whether the Panamanian safety certificates obtained by the ferry confirm that the boat actually conformed to the maritime transport safety agreements to which Egypt is a signatory," the report said. It also criticised Saudi authorities for failing inspect the ferry before it left the Saudi port of Dabba.
Al-Salam 98 was carrying 1,417 passengers when it sank. Only 387 survived the disaster.


Clic here to read the story from its source.