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Austrian Court Upholds €35M In Elevator Cartel Fines

Law360 (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,...
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