Brazilian supreme court maintains fine against CSN, Usiminas and Cosipa

Brazilian supreme court maintains fine against CSN, Usiminas and Cosipa
Photo: https://www.ft.com/content/a407646a-dcb7-11e5-904d-d3ec2492dc92 12.09.2022 59

After over 20 years of a judicial battle, the supreme court in Brazil maintained a fine imposed by the antitrust authority Cade against the local steel producers CSN, Usiminas and Cosipa. 

The fine, estimated at $4.0 million plus interest over the period, was established in 1999 due to anti-competitive policy adopted by the companies in the readjustment of flat steel products prices during 1996 and 1997. 

During the period, the companies have contested the decision of Cade in lower courts, without success, until 2021, when CSN tried to nullify the whole process next to the supreme court. 

Quoted by the newspaper Valor Econômico, the coordinator of Cade, Juliana Domigues, emphasized the importance of having new procedures for similar cases, with courts specialized in the investigation of breaches against the economic order. 

Source: SteelOrbis

Share with friends

Related content