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Wednesday, 1 August 2018

Baker & Mckenzie Int’l members Helmy, Hamza & Partners secure win for El Motaheda Co. case against glucose maker

Baker & Mckenzie International announced last week that Egyptian affiliates Helmy, Hamza & Partners successfully secured a winning verdict for El Motaheda Co. for Trade in its case against a “major” Egyptian glucose producer, whose identity was not revealed. El Motaheda had pursued legal action against the glucose manufacturer for losses incurred between 2008-12 as the result of unfair price increases, which had been born of collusion between three of the country’s major glucose makers, the law firm said in a release. All three producers had reached a settlement agreement with the Egyptian Competition Authority (ECA) after they were investigated and found to be in violation. The Economic Court’s verdict, however, came in spite of the settlement, making “the case the first successful private damages case following an ECA cartel settlement decision,” according to the firm.

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