Chemical Giants Appeal Bleaching-Cartel Fines

Law360, New York (July 28, 2006, 12:00 AM EDT) -- The majority of the seven companies—including some of the biggest names in the global chemical industry—fined €388 million by the European Commission in May for running a bleaching chemicals cartel are now appealing their fines.

Officials with Belgian chemical and pharmaceutical company Solvay SA told a reporter for AFX News that the company—which faces the largest fine out of the seven companies penalized—feels its fine was disproportionate.

“To our knowledge, all companies fined except one have appealed,” said Jacques Levy-Morelle, Solvay’s general counsel.

The E.C. said...
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.