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EU Upholds €3.4M Fine Against Spanish Rubber Cos.

Law360 (December 18, 2008, 12:00 AM EST) -- A European court has upheld a €3.4 million ($4.9 million) fine imposed by the European Commission in 2005 on a group of affiliated Spanish chemical companies charged with taking part in a cartel to fix rubber prices and exchange confidential information.

The European Court of First Instance decided on Thursday to uphold the commission's ruling against Spanish rubber companies Repsol YPF SA, Repsol Quimica SA and their subsidiary General Quimica SA, finding that they violated the EC treaty by engaging in restrictive business practices, the commission...
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