EU Court Adviser Backs €314M Paper Cartel Fine

Law360, New York (April 2, 2009, 12:00 AM EDT) -- A group of paper companies should pay out a collective €313.7 million penalty previously handed down by Europe's competition watchdog for their roles in running a cartel in the carbonless paper industry, an adviser to the European Union's highest court has reportedly recommended.

The Advocate General urged the European Court of Justice to affirm the fines amid an appeal by several of the companies of a lower court's ruling upholding the fines, Dow Jones reported Thursday.

The European Commission imposed the fines in December 2001 after...
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.