I hope so, I mean, there are only so many bullets you can sidestep. I don't think that when This one fires, he will be in a position to sidestep... considering that his arse will still be sore from his slide out of office...

The French judge has been quietly interviewing witnesses in the case since last year and has considered calling Mr Cheney to testify. With the new SEC investigation, that politically explosive prospect seems more remote, if only because French and US authorities appear to be co-operating with each other to exchange information.

Still, the question remains: how much did Mr Cheney know about the contested deal? Halliburton says that Mr Stanley did not report directly to Mr Cheney and points out that the initial deal was signed in 1995 by a company that only became a part of Halliburton three years later, with the takeover of Dresser Industries.

"Halliburton wasn't involved in this," said a Halliburton spokesperson. "This was all put together well before we acquired Dresser."

According to lawyers familiar with the relevant US statutes, however, that may not be a complete defence. Under US law, companies become responsible for any regulatory issues of companies they acquire. And TSKJ continued to win contracts to extend the project until 2002, using Mr Tesler as an agent.

Furthermore, the Foreign Corrupt Practices Act (FCPA) penalises any company officers who "knew or should have known" that bribes were paid. Mr Cheney was personally involved in acquiring Dresser, raising the question whether the due diligence conducted during the acquisition should have brought any impropriety to light, lawyers say.