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Chile: Court postpones hearing to settle Tissue Cartel compensations

 |  February 21, 2017

The hearing called for February 20th to ratify the agreement between Chile’s consumer protection agency SERNAC, the consumer advocate group CONADECUS, and paper company CNMC to settle terms for compensation to be paid to Chile’s citizens over the company’s decade-long price-fixing scheme in the Tissue Paper market has been postponed, as SERNAC failed to present credentials as a party to the agreement.

SERNAC’s deputy directyr, Andres Herrera, declared later that the agreement had not been ratified as both they and the CMPC’s representatives had determined that “a series of formalities have not been fulfilled regarding the framing of the agreement.”

Other reasons were offered for the postponement, including a judicial appeal presented by CNMC’s cartel accomplice, SCA, which would seek to overturn the court’s competence over the matter. Additionally, the court has received an appeal from CMPC claiming an expiration of statutes of limitation, which may also have contributed to the decision to postpone.

Full Content: La Tercera

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