A PYMNTS Company

EU: Austrian timber giant sues German state for unfulfilled contracts

By  |  February 12, 2013

Austrian lumber giant Klausner Group is reportedly suing a German state for more than $75 million in what one expert calls a situation of a violation of competition and antitrust laws. Klausner Group is suing North Rhine-Westphalia of Germany for undelivered timber in a case with claims that could reach nearly $135 million. According to reports, Kalusner signed a contract with the state for 500,000 cubic meters of spruce at fixed low prices – two politicians are apparently responsible for the contracts. According to the state, the deliveries stopped because Klausner was not paying its bills on time. An expert asked to comment on the case, however, has called “the Klausner agreement” a violation of various laws, including antitrust and competition law.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: IHB

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.