EU May Trim Cartel Fines In Financial Hardship Cases

Law360, New York (June 16, 2010, 7:13 PM EDT) -- Facing claims of financial hardship from an increasing number of companies seeking reduced cartel fines, the European Commission has indicated that it will apply lower fines in some upcoming cases for businesses than have shown they cannot pay higher penalties.

The number of companies petitioning the regulator for reduced fines based on an inability to pay has grown "significantly" over the past few years, European Union Competition Commissioner JoaquĆ­n Almunia and Financial Programming and Budget Commissioner Janusz Lewandowski said in a note to the commission's College...
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