Overview

On 9 October 2009 the Spanish Provincial Court of Valladolid issued a judgement condemning Acor Agricultural Cooperative to pay EUR1,010,053.13 to Nestlé and other companies of the food sector. The payment is intended to compensate such companies for the losses and damages they suffered by an infringement of Article 1 of the Spanish Competition Act. This Article mirrors Article 101 of the Treaty for the Functioning of the European Union (formerly Article 81 of the EC Treaty) and forbids all agreements between undertakings, decisions by associations of undertakings and concerted practices which have as their object or effect the prevention, restriction or distortion of competition.

To read more click View Briefing