Appeal by Electro Rent Corporation (“Electro Rent”) pursuant to section 114 of the Enterprise Act 2002 against a decision of the Competition and Markets Authority (the “CMA”) of 11 June 2018 (the “Decision”) to impose a penalty of £100,000 on Electro Rent for failure to comply with an interim order dated 7 November 2017 by issuing on 16 March 2018 a notice to exercise a break option (the “Break Notice”) in respect of a lease of premises in Sunbury-on-Thames that Electro Rent Europe NV’s UK business used for warehousing and offices.
Electro Rent appeals against the Decision on the following grounds: (a) the CMA erred in finding that Electro Rent did not have a reasonable excuse for any breach by reason of service of the Break Notice; and (b) the penalty imposed by the CMA was excessive and should be reduced to nil or a nominal sum.
The case management conference listed for 1 August 2018 was vacated. Case management directions were given by Order of the Chairman dated 13 August 2018.
The main hearing has been listed for 24 October 2018 with a time estimate of two days.