EU Court Upholds Akzo, Arkema Fines In Acid Cartel

Law360, New York (September 30, 2009, 1:58 PM EDT) -- A European court has kept in place €216.9 million ($317.6 million) in fines slapped on Dutch chemical company Akzo Nobel NV, France's Arkema and Germany's Hoechst AG after the companies appealed a European Commission ruling that they should fork over millions of euros in fines for allegedly fixing prices in the monochloroacetic acid market.

The companies had asked the European Court of First Instance to take a second look at the EC's January 2005 ruling imposing the penalty.

The EC ordered Akzo to fork over €84.38...
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