OFT faces uncertain future as fines cut by total of 84%

摘要

The OFT has suffered a major blow after final hearings in the appeal cases meant every penalty that was appealed by the firms it imposed fines on for alleged anti-competitive behaviour was either reduced or wiped out. This comes at a time when the watchdog's future is being considered by the government. In a total of 25 judgments handed down by the Competition Appeal Tribunal (CAT) over the course of the past six weeks, fines of £79m were reduced to £13m. The most striking result was the tribunal's finding that there was no evidence at all to suggest that two of the companies appealing the fines - GMI Construction and AH Willis - had engaged in cover pricing at all, while a further two firms - Durkan and North Midland Construction -were found not to be liable on certain aspects.