Company claims it never had control over former subsidiary Concentra
Durkan has confirmed that it is considering future action in regard to the Competition Appeal Tribunal’s (CAT) decision to uphold a fine levied by the OFT.
The CAT concluded today that the OFT had failed to establish that Durkan Limited 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 CAT reduced the company’s total fine by 64 per cent from £6,720,551 to £2,436,000.
However, the CAT 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 any future action.”
In relation to the company’s success in contesting the cover pricing point chief executive of Durkan Holdings Danny Durkan said: “Durkan has always operated and continues to operate a Competitive Practice Policy that meets the requirements of the code issued by the UK Contractors Group and National Federation of Builders.
“We welcome the CAT’s findings and are obviously pleased that our name has been cleared”.