Austrian Court Upholds €35M In Elevator Cartel Fines

Law360, New York (November 7, 2008, 12:00 AM EST) -- Austria's highest court upheld nearly €35 million ($44.5 million) in fines Friday for Lucerne, Switzerland-based Schindler Holding AG the country's antitrust authorities levied against the elevator manufacturer in 2007 for its cartel participation.

Schindler said Friday that the Austrian Supreme Court ruling finalizes the competition fine.

The Austrian proceedings followed the European Union's highest-ever cartel fine of €992.3 million ($1.3 billion) for four elevator and escalator companies.

In 2007, Austria's antitrust authority asked the Higher Provincial Court of Vienna, which acts as the country's cartel court,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.