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Spanish court scraps Mapfre, Münchener antitrust fines; orders competition watchdog to review other sanctions in building-insurance cartel

( June 29, 2015, 14:13 GMT | Official Statement) -- MLex Summary: Spain’s Supreme Court has overturned cartel fines totaling 120.4 million euros that the national antitrust watchdog imposed in November 2009 on six building-insurance companies for having agreed on the prices for a mandatory construction-damages insurance. Judges at the Tribunal Supremo upheld a ruling made by a lower court, which annulled the financial penalties imposed on Mapfre (21.6 million euros) and Münchener (15.8 million euros). The court said these companies’ participation in the cartel couldn’t be proven. In addition, the Tribunal Supremo confirmed the role of Asefa, Swiss, Scor Global and Caser in the cartel, but ordered the competition authority to recalculate the sanctions.Full statement follows in the Spanish original:...

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