Eni loses appeal over €106m rubber cartel fine

New York – The European Court of Justice (ECJ) has refused to reduce a €106.2-million rubber cartel fine against Eni SpA, in a long-running dispute over the EU watchdog's decision to fine several companies that made chloroprene rubber in 2007.

In 2007, the European Commission handed down a collective €243.2 million in fines tochloroprene rubber producers, including Eni, Dupont and Dow Chemicals, for a decade’s worth of alleged market-sharing and price-fixing.

According to Law 360 – a newswire for business lawyers – the ECJ, also rejected the European Commission’s efforts to reinstate about €26 million that a lower court slashed from the penalty.

Eni and Versalis SpA, which were held jointly and severally liable for the original €132.16 million fine, had urged the ECJ to further reduce or completely overturn the fine.

The companies claimed that the EC and the lower court had incorrectly held Eni responsible for its former unit's conduct and erred in deciding that the companies' role in the alleged cartel had continued into 2002.