Business

48 companies charged with illegal practices

Lawyers for the Autoridad de Protección al Consumidor y Defensa de la Competencia (Acodeco) are going forward with 10 cases against 48 businesses charged with engaging in illegal monopolistic practices.

The cases involve various types of businesses, including five airlines, seven insurance companies, 16 advertising firms, and five petroleum companies. In most of the cases, the companies have been accused of price-fixing.

A ruling has already been issued against Aceti-Oxígeno and Distribuidora de Gases Industriales, with sentencing by the Tribunal Superior to follow.

Three judgements were suspended when Acodeco agreed to give some of the companies more time to prepare their defense or seek an out-of-court settlement, as in the cases involving the La Victoria and Alanje sugar mills and sugar companies La Estrella S.A., Nacional, S.A. and Ansarosa.