The High Court has delivered its decision in the claim brought by BritNed Development Limited (BritNed) against ABB AB and ABB Ltd (together ABB). The case is significant as it is the first cartel damages claim to reach final judgment in the English courts. BritNed alleged that it suffered damages in excess of €180 million by reason of an alleged overcharge in the price of the UK-Netherlands electricity interconnector cable, which ABB contracted to supply to BritNed in 2007. The much-anticipated judgment of Mr Justice Marcus Smith found that ABB did not deliberately overcharge BritNed for the cable and awarded BritNed only a small portion of the damages sought, entirely rejecting BritNed’s claims for alleged lost profits and compound interest. With a proliferation of competition
The UK High Court delivers its first follow-on cartel damages case judgment in the electricity interconnected cable market (BritNed / ABB)
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