EU Court Denies Beef Groups' Appeal Of Cartel Fines

Law360, New York (December 18, 2008, 12:00 AM EST) -- Europe's highest court rejected on Thursday a plea by five French beef industry associations to overturn the European Commission's penalty, which began at €16.7 million ($23.8 million), for forming a price-fixing cartel.

The European Court of Justice's decision to deny the appeal finally closes a long-running dispute over the EC's decision to fine six French beef federations a total of €16.7 million ($23.8 million) in 2003. The European Court of First Instance affirmed the commission's decision, but reduced the penalty in 2006.

“The European Commission welcomes...
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.