On 14 December 2013, details were published of an appeal brought by Companhia Previdente and Socitrel (“Applicants”) against a decision of the Commission refusing to reduce, on grounds of inability to pay, the fine imposed on Socitrel for its participation in a prestressing steel cartel. The decision also declared Companhia Previdente jointly and severally liable for the payment of the imposed fine. The Applicants allege that the Commission infringed Article 296 of the Treaty on the Functioning of the European Union (“TFEU”), because the refusal to reduce the fine on the ground of inability to pay did not contain a substantiated statement of reasons, since there was no specific analysis of the requirements which must be verified for the purposes of granting a reduction of a fine. Furthermore, the Applicants allege that the Commission erred as to the facts and made a manifest error of assessment and breached the principle of proportionality as all the relevant facts were not given due consideration, nor was the evidence provided by Companhia Previdente adequately examined during the procedure to revise the fine which is beyond the current financial resources of the Companhia Previdente Group.Source: Official Journal C 367/30, 14/12/2013