EU High Court Nixes Repsol Appeal Of Cartel Fine

Law360, New York (January 20, 2011, 8:04 PM EST) -- The European Union's highest court Thursday dismissed an appeal by Spanish petroleum company Repsol YPF SA and related companies seeking to toss a €3.4 million ($4.9 million) fine for an alleged cartel that fixed rubber prices and exchanged confidential information.

The European Court of Justice threw out most of the appeal — brought by Repsol, General Química SA and Repsol Química SA — and ordered the companies to pay all of the litigation costs stemming from their initial lawsuit challenging the fine.

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