Firm’s fine was reduced by 64%

Durkan has confirmed that it is considering future action in regard to the Competition Appeal Tribunal’s decision to uphold part of a fine levied by the OFT.

The tribunal concluded this week that the OFT had failed to establish that Durkan had provided a cover price and that the auditor had erred in its basis for calculating the fine it had imposed. As a result the tribunal reduced the company’s total fine by 64% from £6,720,551 to £2,436,000.

However, the tribunal maintained that Durkan Holdings exercised “decisive influence” over Concentra, a former subsidiary, turning down the company’s attempt to appeal that point.

In a statement Durkan said: “Concentra was at no point controlled by Durkan Holdings and acted entirely independently of the holding company. Durkan Holdings is very disappointed in this decision and is considering future action.”

This comes after the tribunal handed down judgments in relation to six firms that appealed fines, but not liability, on 11 March. The judgments reduced fines by up to 90%, with Kier’s decreasing from £17.9m to £2m.

As Building went to press Galliford Try was awaiting the decision on its appeal of a £8.3m fine expected yesterday (Thursday).