GCR Awards 2016
CRA clients recognized at GCR Awards 2016
CRA client projects in North America and Europe received top
honors at the Global Competition Review (GCR) Awards 2016 on April 5 in Washington, DC, including Matter of the Year for the Air Cargo Litigation; Merger Control Matter of the Year — Europe for the General Electric/Alstom SA merger; and Behavioral Matter of the Year (Agency) Europe for the EC’s credit default swaps investigation.
Matter of the Year
CRA consultants in North America and Europe advised counsel to several clients in this multi-jurisdictional investigation of alleged price fixing in the air cargo industry. CRA economists included Cristina Caffarra, Margaret Sanderson, Ian Small, and David Reitman. This long running investigation began in 2006 and in 2010, the European Commission imposed fines which were overturned by the European Court in 2015.
Merger Control Matter of the Year – Europe
CRA economists advised counsel to General Electric on the acquisition of Alstom’s power and grid business. The $13.5 billion deal was reviewed by the US Department of Justice and the European Commission who required Alstom to divest certain heavy duty gas turbine business assets in Europe and the US. CRA advised Arnold & Porter throughout the DOJ’s review and in Europe, advised counsel to GE, Skadden, Arps, Slate, Meagher & Flom. The US team was led by Andrew Dick and Jeffrey Prisbrey. The European team included Jeffrey Prisbrey, Professor Carl Shapiro, and Professor Kai-Uwe Kühn.
Credit Default Swaps Investigation
Behavioral Matter of the Year – Europe
CRA teams in the US and Europe advised counsel to Goldman Sachs and Deutsche Bank throughout the European Commission’s investigation of alleged anticompetitive conduct in the credit default swap market. The EC raised concerns regarding alleged coordination by 13 investment banks to foreclose from the credit default swaps market Deutsche Börse in 2007 and Chicago Mercantile Exchange in 2008. The EC closed its investigation in December 2015 after finding the evidence did not support such concerns. A CRA team including Cristina Caffarra, Pierre Régibeau, Mukarram Attari, Sam Lynch, and Prof. Patrick Legros of ULB assisted Linklaters, counsel to Goldman Sachs. A separate team including Robert Stillman, Raphaël De Coninck, Colleen Donovan, Assen Koev, and Mikaël Hervé assisted Jones Day, counsel to Deutsche Bank.
For information on the GCR Awards 2015, click here.