Existing Proceedings Sample Clauses

Existing Proceedings. Various members of the Group are involved in various routine legal proceedings incidental to the conduct of its business. Such members of the Group do not expect these legal proceedings to have a Material Adverse Effect on its financial condition or results of operations. In June 2002, the German competition authorities (the Bundeskartellamt or “BKA”) launched an investigation against a number of German paper merchants, among which was Deutsche Papier Vertriebs GmbH, alleging a violation of anti-trust rules in Germany. The potential maximum fine for the alleged violation is EUR500,000 plus three times the surplus profit resulting from the violation of the anti-trust rules. The fine has not yet been imposed by the BKA and the investigation of the BKA is still ongoing. A third party investigation into the alleged surplus profit in a number of regions substantiated the position taken by the ▇▇▇▇▇▇▇▇ Group that there has been no or at the most a minor surplus profit in the challenged period. As the BKA has recently extended its investigation to more regions in Germany, it is at this stage not possible to give an estimate of the potential exposure. The Parent has given an indemnity to PaperlinX Ltd, the buyer of Paper Merchant Division, with respect to this case.