When the European Court of Justice (ECJ) handed down its Judgment, on 3 September 2009, on an appeal by three companies against a ruling concerning participation in the carbonless paper cartel there were both winners and losers. Both August Koehler AG and Distribuidora Vizcaina de Papeles failed to overturn the 2007 Court of First Instance ruling confirming the European Commission's finding of their participation and the duration of their involvement in the cartel. However, the third appellant Bolloré successfully demonstrated that its rights of defence had been breached. Although Bolloré could, in theory, be found liable for the participation of its subsidiary Copigraph in the cartel, the Commission was obliged to ensure that this possibility was clear in the statement of objections it had sent during the investigation. Since the Commission had inadequately explained its intentions, Bolloré could not properly defend itself. While the CFI had recognised that this was a breach of the rights of defence it had failed to draw the logical conclusion over the question of liability. Therefore, the ECJ annulled the finding against Bolloré.