Chemical Cos. Should Pay Cartel Fine, EU Adviser Says

Law360, New York (February 17, 2011, 3:12 PM EST) -- An adviser urged the European Union's highest court on Thursday to reject challenges from Total SA's Elf Aquitaine SA and its former subsidiary Arkema SA to €58.5 million ($85.7 million) in fines over an alleged monochloroacetic acid cartel.

The European Court of Justice should refuse to toss the €45 million portion of the fine jointly assessed against both companies because Elf Aquitaine owned a 98 percent stake in Arkema, a large enough financial tie for the European Commission to assume the company had considerable control over...
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