UK competition court awards punitive damages for the first time
The UK Competition Appeal Tribunal has awarded compensatory and exemplary damages to the victim of an abuse of a dominant position. Companies on both sides of the Atlantic should pay heed to the developing private enforcement landscape in the European Union, as aggrieved parties seek not only to be compensated, but also to ensure that violators are duly punished.
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In a speech delivered at the College of Europe in Bruges on 14 January 2013, Joaquín Almunia, Vice-President of the European Commission, and Commissioner responsible for Competition, stated that the Commission hopes to settle around half of its outstanding cartel investigations in 2013, using the settlement procedure instituted in July 2008.
On 24 January 2013, the Internal Market and Consumer Protection committee of the European Parliament endorsed a new Regulation setting out customs procedures for goods suspected of infringing intellectual property rights.