Washington, DC

Extraterritoriality of Antitrust Law in the US and Abroad : A Hot Issue

The annual George Washington University Law School conference jointly organized with Concurrences with the support of Axinn, Veltrop & Harkrider - O’Melveny & Myers - Paul Hastings.

KEYNOTE SPEAKER

WHAT’S THE ROLE OF COMITY IN THE INTERNATIONAL ANTITRUST ENFORCEMENT ?

Chief Justice Diane P. WOOD

Bill KOVACIC (Director of the George Washington Competition Law Center) welcomed the audience and opened the conference by remarking the importance of extraterritoriality in antitrust enforcement. Kovacic highlighted the increase in number of existing competition plus authorities (currently approximately 130) and the fact that some of them are becoming very powerful in practice. Kovacic discussed how the USA ‘monopoly’ relating to antitrust enforcement became a US-EU duopoly when the EC adopted its first merger regulations. These days, an oligopoly is being developed, particularly with China, South Africa, India, and Brazil.

Consequently, international transactions as well as monopoly cases are being structured differently. Kovacic anticipated that soon eight to ten gatekeepers will be key to the structuring of business transactions. Against this background, Kovacic concluded that there is disappointment as to comity not having had a stronger role.

(c) Photos Matt Mendelsohn.

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Intervenants

  • United Kingdom’s Competition Authority - CMA (London)
  • Hausfeld (Washington)
  • US Court of Appeals for the Seventh Circuit (Chicago)
  • ESSEC Business School (Cergy)
  • University of Pennsylvania - The Wharton School of Management (Philadelphia)
  • Baker Botts (Washington)
  • Axinn Veltrop & Harkrider (San Francisco)
  • Axinn Veltrop & Harkrider (Washington)
  • US Department of Justice (Washington)
  • Maersk (Copenhagen)
  • Shell (Houston)
  • Paul Hastings (Washington)
  • Paul Hastings (Washington)
  • U.S. Court of Appeals for the District of Columbia Circuit (Washington DC)
  • Simpson Thacher & Bartlett (Washington DC)
  • Ropes & Gray (San Francisco)