29 June 2006 14:23 [Source: ICIS news]
BRUSSELS (ICIS news)--The European Commission (EC) on Thursday applauded the European Court of Justice for requiring companies to submit documents during a cartel investigation that may implicate themselves in the case.
“The Court also confirmed that a reduction of a fine under the Leniency Notice can be justified only where the company demonstrates a genuine spirit of cooperation, which SGL Carbon had failed to do,” the Commission said in a statement.
The Court ruled the lower court’s decision to reduce SGL Carbon’s fine based on leniency was in fact wrong so restored much of the fine. The Commission lauded the Court for restoring 94% of the original fine on SGL Carbon, or €75.7m ($94.8m).
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections