The regulatory process is like a pregnancy: long and slow, leading to a blur of milestones that arguably mark the moment of birth. Did Europe’s new antitrust regime come into being when the European Parliament adopted the directive on antitrust damages actions in April? Or will it be born when the Council of Ministers gives its final approval in late November? In an area of law where private enforcement is key, perhaps the best test is the confidence shown by the plaintiffs bar. The Oct. 1 opening of a Brussels office by global antitrust leader Hausfeld LLP is as good a moment as any to declare: This baby is viable.
“Private enforcement in Europe has arrived,” says Hausfeld’s Brussels founding partner Laurent Geelhand. Yet European companies are still leaving on the table billions that can be claimed from cartelists or market-abusive suppliers. Geelhand knows because he recovered more than $100 million from cartelists over the past decade as general counsel of Michelin Group Europe and a pioneering client.
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