CADE signs Cease and Desist Agreement with Allpark and seven individuals
Cease and Desist Agreement
In the public hearing of 19 August 2015, the Administrative Council for Economic Defense - CADE signed a Cease and Desist Agreement (TCC in its acronym in Portuguese) with Allpark Empreendimentos e Participações and seven individuals. The pecuniary contributions related to the process sum more than BRL 10 million (Administrative Proceeding no. 08700.001414/2015-65).
The case concerns a cartel in the market of paid parking services in the city of São Paulo. With the signature of the TCC, the beneficiaries admit their participation in the investigated conduct and agree to cease the irregularities, besides adopting measures to ensure that the conducts will not repeat.
The Administrative Proceeding will be suspended in relation to the signatories of the agreement until the fulfillment of the obligations.
According to CADE, the TCC aims at preserving and protecting competition in the market of commercial operation of parking lots in the capital city of São Paulo.
The amount of BRL 10 million will be collected by the signatories to the Diffuse Rights Fund (FDD in its acronym in Portuguese) in two installments – except one of the individuals, who will do the payment in a single installment.
Furthermore, the signatories agreed to present to CADE any document, information or any type of material that may be related to the case, besides cooperating fully and permanently with the investigations.