{"id":603406,"date":"2019-04-22T04:00:15","date_gmt":"2019-04-22T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/"},"modified":"2019-04-22T04:00:15","modified_gmt":"2019-04-22T04:00:15","slug":"ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/","title":{"rendered":"Ibnsina lodges appeal with Egypt\u2019s Court of Cassation to further reduce antitrust fine"},"content":{"rendered":"

<\/a> DISPUTE WATCH- Ibnsina lodges appeal with Court of Cassation to further reduce antitrust fine: <\/b>Ibnsina Pharma has filed an appeal with the Court of Cassation (the nation\u2019s highest court of appeals) against a lower court decision that cut an EGP 2 bn antitrust fine<\/a> to EGP 160 mn, the company said in a statement to the bourse (pdf)<\/a>. The company said it was appealing because \u201cthe decision is not final, can be appealed, and no date has been set for the appeals hearing.\u201d If the Cassation Court were to accept the company\u2019s appeal, a retrial would take place with EGP 160 mn being the maximum fine Ibnsina would pay, meaning the company is not risking a scenario that would see the court deciding to raise the fine again. The company agreed this week to pay c.EGP 50.9 mn in dividends to shareholders at EGP 0.07 per share, according to a separate EGX disclosure (pdf)<\/a>.<\/p>\n

Background: <\/b>The Egyptian Competition Authority had brought a case against four distributors including Ibnsina, Ramco, Multipharma, and United Company for Distribution and Trade on allegations they colluded<\/a> to cut credit periods and slash discounts to small retail outlets. The earlier verdict<\/a> cleared an overhang on Ibn Sina stock and underscored the fact that the Cairo Appeals Court was willing to listen to and understand a complex argument from business.<\/p>\n","protected":false},"excerpt":{"rendered":"

DISPUTE WATCH- Ibnsina lodges appeal with Court of Cassation to further reduce antitrust fine: Ibnsina Pharma has filed an appeal with the Court of Cassation (the nation\u2019s highest court of appeals) against a lower court decision that cut an EGP 2 bn antitrust fine to EGP 160 mn, the company said in a statement to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[2383,957,72,1414,963,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603406","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-antitrust","tag-dispute-watch","tag-enterpriseam","tag-ibnsina-pharma","tag-law","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b03f410c-eb71-4ba0-8c4c-0bcb41ff766a","is_powered_by":true,"section_story_id":"29c6dca3-4097-481a-b866-7347003b16bc","story_type":"1","photo_url":"","photo_position":"above","related_issue":[603399],"teaser":"","voice_url":""},"yoast_head":"\nIbnsina lodges appeal with Egypt\u2019s Court of Cassation to further reduce antitrust fine - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ibnsina lodges appeal with Egypt\u2019s Court of Cassation to further reduce antitrust fine\" \/>\n<meta property=\"og:description\" content=\"DISPUTE WATCH- Ibnsina lodges appeal with Court of Cassation to further reduce antitrust fine: Ibnsina Pharma has filed an appeal with the Court of Cassation (the nation\u2019s highest court of appeals) against a lower court decision that cut an EGP 2 bn antitrust fine to EGP 160 mn, the company said in a statement to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-22T04:00:15+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Ibnsina lodges appeal with Egypt\u2019s Court of Cassation to further reduce antitrust fine\",\"datePublished\":\"2019-04-22T04:00:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/\"},\"wordCount\":235,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"antitrust\",\"dispute watch\",\"EnterpriseAM\",\"Ibnsina Pharma\",\"law\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/\",\"name\":\"Ibnsina lodges appeal with Egypt\u2019s Court of Cassation to further reduce antitrust fine - 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A Cairo Economic Court had found in March that Ibnsina, along with competitors United Co. for Pharmacists,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630954,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/06\/ibnsina-confident-antitrust-fine-will-be-overturned\/","url_meta":{"origin":603406,"position":3},"title":"Ibnsina confident antitrust fine will be overturned","author":"enterpriseam admin","date":"6 March 2018","format":false,"excerpt":"Ibnsina Pharma\u2019s sales practices did not break competition rules, the company\u2019s Co-CEO Omar Abdel Gawad told Bloomberg. His comments followed the Cairo Court of Appeals agreeing to hear Ibnsina\u2019s appeal on a ruling that fined the company, alongside three other pharma manufacturers, a combined EGP 5.6 bn for alleged antitrust\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630835,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/","url_meta":{"origin":603406,"position":4},"title":"Court accepts Ibnsina\u2019s appeal in antitrust case","author":"enterpriseam admin","date":"4 March 2018","format":false,"excerpt":"Court accepts Ibnsina\u2019s appeal in antitrust case: The Cairo Court of Appeals has agreed to hear Ibnsina Pharma\u2019s appeal against an Economic Court ruling that fined the company, alongside three other pharma manufacturers, a combined EGP 5.6 bn fine for alleged antitrust violations, Al Borsa reports. A Cairo Economic Court\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605130,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/pharma-corruption-case-postponed-to-19-february\/","url_meta":{"origin":603406,"position":5},"title":"Pharma corruption case postponed to 19 February","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"COURT WATCH- The Cairo Economic Court has postponed to 19 February its ruling in an appeal by pharma distributors of an antitrust fine, according to a company disclosure from Ibnsina (pdf). The distribution companies (Ibnsina, Ramco, Multipharma and United Company for Distribution and Trade) are appealing an Egyptian Competition Authority\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=603406"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603406\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603399"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603406"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603406"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}