Hiu Man Chan
Fortune 100 Chemical company (US)
This Fortune 100 chemical firm faced numerous antitrust regulatory investigations in the US and globally alleging it had for more than 10 years operated in an illegal cartel. We conducted an extensive review of the relevant market and developed an econometric model that explained market-wide price movements as a function of oil and benzene feedstock prices and the entrance of a new competitor. These analyses demonstrated that observed commonality in the price movements had resulted from these external factors affecting the entire chemical industry.
The investigations were subsequently closed.
Achilles Rail v Network Rail supplier assurance services dispute (UK)
We were engaged to provide economic expert witness evidence on behalf of the defendant in a standalone competition dispute between Achilles Information Limited, a provider of supplier assurance services, and Network Rail Infrastructure Limited. Achilles accused Network Rail of foreclosing it from the rail supplier assurance market.
Our team reviewed disclosed documents, studied factual witness statements, and drafted an expert report addressing key issues relevant to the dispute such as market definition, counterfactual outcomes, and objective justification. The report clearly set out the two-sided nature of the supplier assurance market and explained the implications of this for the effects analysis.
Coca-Cola Turkey, multiproduct rebates (Turkey)
We assisted Coca-Cola Turkey to respond to an investigation by the Turkish Competition Authority (TCA) regarding allegations that Coca-Cola Turkey had acted abusively by hindering competition in the carbonated soft drinks market through its cooler and rebates practices. This included preparing economic expert reports for submission to the TCA during the investigation and following the issuance of a statement of objections.
Based on a thorough analysis of the relevant economic theory, the AlixPartners team set out the appropriate economic framework to undertake an effects-based analysis to distinguish competitive and anticompetitive conduct. The team assessed the economic and factual evidence using that framework to evaluate the authority’s underlying theory of harm and to determine whether Coca-Cola Turkey’s practices were capable of excluding rivals via loyalty effects, leading to anticompetitive foreclosure. The authority agreed on commitments with Coca-Cola Turkey and ended its investigation without an infringement finding.
Retail banking inquiry (UK)
Our economists were retained by HSBC to advise on the CMA market inquiries into retail and SME banking in the UK. This 18-month inquiry assessed whether these markets were working well in the interests of consumers, whether any market features created adverse effects on competition, and, if so, whether remedies should be imposed. We compiled economic evidence and analysis on a wide range of issues in particular consumer behavior, product profitability, market outcomes, and the likely impact of various structural and behavioral remedies.
The CMA considered a wide range of potential remedies to improve outcomes for consumers and eventually settled on a range of behavioural remedies.