EU Court Tweaks Galp, Nynas Bitumen Cartel Fines

Law360, New York (September 17, 2013, 7:13 PM ET) -- A European Union court on Monday largely rejected five energy companies' appeals of their Spanish bitumen cartel penalties, with only Nynas Petroleum AB and Galp Energia SA winning slight reductions to their multimillion-euro fines.

The EU's General Court concluded that the European Commission had enough evidence to support its 2007 fines against Nynas, Galp, CEPSA SA, Repsol SA and PROAS SA for fixing the price of bitumen in Spain for two decades. But for both Nynas and Galp, the court found that the watchdog hadn't adequately...
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