In BritNed v ABB [1], the English Court of Appeal substantially reduced the UK's first award of damages in a so-called cartel damages claim brought for breach of European competition law. In so doing, the Court rejected calls for a more strict and punitive approach to damages in cartel claims. The case is an important bellwether for private follow-on damages actions in Europe. Background On 2 April 2014, the European Commission adopted a decision against a number of European, Japanese and South Korean power cable manufacturers, including ABB, for infringing Article 101 of the Treaty on the Functioning of the European Union [2] ("TFEU") (the "Infringement"). [3] The Commission's Decision concerned alleged market-sharing and customer allocation among the main producers of high-voltage
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The UK Court of Appeal adjusts-down a follow-on damages award in a cartel case and emphasises the principle that damages may only be compensatory, not punitive (BritNed / ABB)
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