THE COURT OF JUSTICE APPLIES "REASONABLE TIME" RULE AND REDUCES FINE IMPOSED ON COMPANY The Court of Justice considered that a reduction by ECU 50 000 of a fine of ECU 3 million imposed on an undertaking for breach of the competition rules constituted a "fair satisfaction" for the excessive duration of the proceedings before the Court of First Instance On 2 August 1989 the Commission adopted Decision 89/515/EEC by which it imposed on 14 producers of welded steel mesh a fine for infringement of Article 85(1) of the EC Treaty. The unlawful restrictions of competition consisted in a series of agreements and/or concerted practices intended to fix prices and/or delivery quotas and to share markets for welded steel mesh. The agreements, according to the decision,
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