Brussels, 17/09/2015 (Agence Europe) - On Thursday 17 September, the European Court of Justice reduced by nearly €3 million the fine on Total for price-fixing on the paraffin wax market from 1992 to 2005 (see EUROPE 9752).
Total and its subsidiary Total France each lodged a separate appeal (see EUROPE 11284). The appeal by Total France (now called Total Raffinage Marketing) was rejected by the Court of Justice in Case C-634/13 P, but the appeal by Total (Case C-597/13) has been partially accepted.
The Court of Justice considers that the European General Court should have allowed Total the same reduction in its fine as allowed for its subsidiary since a parent company whose liability arises solely from the subsidiary's actions should logically benefit from any reduction in the subsidiary's liability. The court therefore set the fine for Total, jointly with Total France, at €125,459,842. (Jan Kordys)
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