UK Court Slashes Antitrust Fines On Construction Cos.

Law360, New York (March 24, 2011, 5:34 PM EDT) -- A British appellate tribunal drastically cut big-rigging fines for six more construction companies Thursday by about £11.8 million ($19 million), a 76 percent reduction from the original penalties, because of a faulty method used to calculate them.

The U.K. Office of Fair Trading had improperly determined the appropriate year for "relevant turnover" — the turnover affected by the infringement in the last year — and its application of the "minimum deterrence threshold" led to improper, excessive fines, the U.K. Competition Appeal Tribunal ruled.

The OFT misinterpreted...
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