Claim for damages launched by Cooper Tire & Rubber Company Europe Limited and other 25 claimants - UpdateIn November 2006, the European Commission imposed fines, among others, upon Shell, Dow, Eni, Unipetrol and Kaucuk for an alleged cartel in the area of Emulsion Styrene Butadiene Rubber ("ESBR"). Unipetrol and Kaucuk, its subsidiary at that time, were jointly imposed a fine of EUR 17.5 million, which they reimbursed to the Commission. At the same time, both companies appealed to the Court of First Instance in Luxembourg and this action is pending.
Following the above decision of the European Commission, Unipetrol has been served with a claim for damages, which tire producers brought against the members of the ESBR cartel (see the regulatory announcement No. 008/2008 dated May 19, 2008). The claim for damages was filed with the High Court of Justice, Queen´s Bench Division, Commercial Court. The claimants ask for damages, together with interest, to compensate for their loss suffered as a result of an alleged cartel. The amount claimed is to be assessed.
Unipetrol challenged the jurisdiction of the UK courts to deal with the claim. Unipetrol's challenge is pending. Furthermore, the Italian group Eni, one of the entities fined by the European Commission, initiated a proceeding before a court in Milan in which it seeks a judgment that the ESBR cartel did not exist and no damage occurred as a result thereof. Eni's action has also been served upon Unipetrol, which currently considers its position in the proceeding.
In Prague, on 22 July 2008
UNIPETROL, a.s.
Reg. Announc. No. 019/2008
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