Brussels Brief - November 16, 2010

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Executives Fined Personally for Leading a Cartel in the Netherlands

On 4 November 2010 the Dutch Competition Authority (known by its Dutch acronym “NMa”) sent a strong signal to any high-ranking company officials who knowingly and actively engage in cartel activity, by imposing personal fines on three executives in the construction sector for the role they played in orchestrating a cartel.

The NMa held the executives personally liable for deliberately coordinating bids on construction contracts by means of “cover pricing”. The fines imposed ranged from EUR 10,000 to 250,000, taking into account the personal financial situation of the executives concerned. This follows another recent case in which personal fines of up to EUR 350,000 were imposed on company management.

Please see full article below for more information.

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Published In: Administrative Agency Updates, Antitrust & Trade Regulation Updates, Business Organization Updates, Construction Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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