CONFERENCE - NEW FRONTIERS OF ANTITRUST - DAMAGES - CIVIL PROCEEDINGS

Quantifying damages in civil proceedings : Can economists and should competition authorities help ? (New Frontiers of Antitrust Conference - Paris, 11 February 2011)

This second roundtable of the conference "New frontiers of Antitrust", Paris, 11 February 2011, is dedicated to the Quantifying damages in civil proceedings. In his contribution, Raphael de Coninck, member of the Chief Economist to the European Commission, presents several methods and techniques that can be used to estimate private antitrust and proposes a pragmatic approach to damages estimation. Jorge Padilla, Senior Managing Director to Compass Lexecon, demonstrates in the second paper, that the typical approach to the calculation of cartel damages, which equates damages to the cartel overcharge, is bound to underestimate the harm caused by the cartel, especially in price fixing cases involving intermediate goods. He discusses a range of solutions to this problem that demand better - more robust - economic tools and approaches. Finally for Me Olivier d’Ormesson, partner at Linklaters Paris and author of the third paper, it is always difficult for a judge to quantify the "damages", all the more so when it comes to competition infringements. In France, the principles of civil law are applied, but their application is rendered difficult by the characteristics of cartels. However, case law remains to date quite rare and often not very helpful, since companies tend to favour private settlements, or engage in forum shopping which leads them in other jurisdictions than France.

Quantifying damages in civil proceedings : Can economist and should competition authorities help ?Quantifying Antitrust Damages in Civil Proceedings : A Pragmatic Approach Rapahël De CONINCK* Chief Economist Team, DG COMP, Brussels The views expressed are the author's and do not necessarily reflect the views of the European Commission, the Directorate General for Competition or any other EU official I. Introduction 1. The Court of Justice of the European Union has made it clear that victims of antitrust infringements have a right to be compensated for the harm they suffered. [1] However, the Commission’s 2008 White Paper on antitrust damages actions identified a number of legal and procedural obstacles that these victims often face to obtain compensation. On this basis, the

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Jorge Padilla, Raphaël De Coninck, Olivier D'Ormesson, Quantifying damages in civil proceedings : Can economists and should competition authorities help ? (New Frontiers of Antitrust Conference - Paris, 11 February 2011), mai 2011, Concurrences N° 2-2011, Art. N° 35690, www.concurrences.com

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