MONITORING TRUSTEE
Professional advice and efficient monitoring
services
Competition authorities around the world use monitoring trustees to ensure compliance with commitments and orders in different types of proceedings, including mergers, antitrust proceedings and state aid cases.
NOCON supports companies and competition authorities with solution-oriented expert advice. Our consultants have significant experience working for and with competition authorities and have the expertise to deliver a smooth and coordinated monitoring process.
As a monitoring trustee, NOCON oversees the implementation of:
- Structural remedies
The sale of business activities or assets - Behavioural remedies
Examples include: interoperability obligations, regulated prices or obligations to grant access. - Interim orders (UK)
Obligations to hold merger parties separate for the time of the merger investigation.
OUR VALUES
NOCON at a glance
Experienced
Our wide variety of engagements with different authorities and types of remedy means we give reliable guidance.
Independent
As a boutique adviser we do not generate conflicts of interest.
Competent
Our teams combine broad sectorial expertise with skills across finance, accounting, M&A, economics, and law.
Highly Efficient
Our lean teams with experienced advisers are time- and cost-efficient.
Trusted
We are a trusted partner of many competition authorities and companies.
Flexible
We offer pragmatic solutions to operating challenges.
At your service
OUR EXPERTS
NOCON was founded in 2016 by Wolfgang and Robert Nothhelfer
and is specialised in monitoring trustee services.
Dr. Wolfgang Nothhelfer
Partner
Wolfgang Nothhelfer is a Founding Partner of NOCON and has acted in more than 30 cases as monitoring trustee. He has over 19 years of experience advising in antitrust proceedings in different roles. He is also a non-governmental advisor of the International Competition Network (ICN) for the CMA.
Prof. Dr. Robert Nothhelfer
Partner
Robert Nothhelfer is a Founding Partner of NOCON. His advisory focus is on management, finance and accounting as well as compliance. He is also an expert of the retail sector. Since 2014, he holds a chair as professor at the Pforzheim University of Applied Sciences (AACSB-accredited) focusing on finance and accounting as well as compliance.
Nick Warren
Partner
Nick Warren is a Partner at NOCON. He has more than 15 years’ experience in UK merger control as both a regulator and consultant. While at the UK Competition Commission, now the CMA, Nick was a Business and Remedies Adviser. Nick was also the Inquiries Director at the former UK competition regulator for the health sector (part of the UK Department for Health and Social Care).
Christian Eickmann
Associate
Christian Eickmann is an Associate at NOCON and has significant experience providing monitoring trustee services. He is also experienced in financial modelling and the handling of large data sets. Prior to joining NOCON, he worked as an economic consultant at PwC and Deloitte for several years acting as a monitoring trustee on several high-profile cases for various competition authorities.
CREDENTIALS
A selection of projects
Lufthansa/MEF/ITA (M.11071)
Airlines – European Commission
Commitment to facilitate entry on short-haul and long-haul routes as well as other obligations
Lufthansa/Swiss (M.3770)
Airlines – European Commission
Commitment to release airport slots as well as other obligations
Bestway/Lexon/Asurex (ME/7042/23)
Pharmacies – CMA (UK)
Monitoring compliance with interim measures and divestment remedy
RheinEnergie/Westenergie (E.ON) (B8-134/21)
Heating electricity – FCO (Germany)
Divestiture of parts of heating electricity business
CHC/Babcock (ME/6932/21)
Helicopter services – CMA (UK)
Monitoring compliance with interim measures and divestment remedy
Lufthansa/United/Air Canada (AT.39595)
Airlines – European Commission
Commitment to release airport slots as well as other obligations
JD Sports/Footasylum (ME/6827/19)
Retail – CMA (UK)
Monitoring compliance with interim measures and divestment remedy
Siemens Healthineers/Varian (M.9945)
Medical imaging solutions – European Commission
Commitment to ensure interoperability with third party solutions
XXXLutz/Tessner (B1-195/19)
Furniture retail – FCO (Germany)
Divestiture of 23 retail outlets
ASSA ABLOY/agta record (M.9408)
Automatic doors – European Commission
Divestiture of several businesses across Europe; long-term behavioural remedy
Nicholls’ (Fuel Oils)/DCC Energy (ME/6762/18)
Fuel oil – CMA (UK)
Monitoring compliance with interim measures
BMW/Daimler/Car Sharing JV (M.8744)
Car Sharing – European Commission
Access remedy obliging parties to grant access to data and multimodal App
Emirates Telecommunications Group/PPF Telecom Group (FS.100011) - Telecoms - European Commission
Monitoring compliance with commitments, including a prohibition of any financing to PPF's activities in the EU internal market
Topps Tiles/CTD Tiles (certain assets)
Supply of tiles – CMA (UK)
Monitoring compliance with interim measures
Evaluation of carve-out merger remedies: a report for the Competition and Markets Authority
Unternehmensgruppe Theo Müller/Royal Friesland Campina
(B4-90/22) Dairy industry - FCO (Germany)
Divestiture of several product groups
VTG/CIT (B9-124/17)
Leasing of freight waggons – FCO (Germany)
Divestiture of two subsidiaries and around 4,400 freight waggons
ProSiebenSat1 Puls4/ATV (Z-3373)
Broadcasting – FCA (Austria)
Long-term behavioural remedy
National Fostering Agency/Acorn Care 1 (ME/6640/16)
Foster care – CMA (UK)
Divestiture of several regional foster care businesses
Remedy Advice for Hong Kong Competition Commission
Consulting services on remedy design for long-term behavioural remedy during the investigation.
Telekom Deutschland/EWE (B7-21/18)
Telecoms – FCO (Germany)
Monitoring rollout of fibre-optic network and access to third parties
CTS Eventim/Barracuda (Z-4651)
Entertainment – FCA (Austria)
Long-term behavioural remedy
VUE/Event (B6-80/18)
Cinemas – FCO (Germany)
Divestiture of six cinema venues
Österreichische Post AG/Assets of DHL Paket (Austria) GmbH (Z-4428)
Postal services – FCA (Austria)
Long-term behavioural remedy, in case of complaints monitoring of potential discrimination of third parties and performing cost audits
Thought Leadership
NOCON-Partner Dr. Wolfgang Nothhelfer regularly publishes and presents on topics related to competition law and economics, including remedy design and implementation.
Selected Publications
“The Role of the Monitoring Trustee: (Only) “Eyes and Ears” of the Competition Authority?”, Neue Zeitschrift für Kartellrecht, 2018.
“UK Merger Control post-Brexit: New challenges for international Transactions with UK Nexus”, Neue Zeitschrift für Kartellrecht, 2017
“The Creation of the Market Transparency Units for Wholesale Trading with Electricity and Gas as well as Fuels", in Bien (ed): German Cartel Law after the 8th Amendment, Nomos-Verlag, 2013.
“Empirical Screenings as Innovative Method for Antitrust Compliance”, Corporate Compliance Zeitschrift. 2012.
„Avoiding Delays in M&A Processes: Best Practice When the Competition Authority Imposes Remedies and Obligations”, together with Cora-Marie Pinter, M&A Review, 2011.
„The German Merger Remedy Experience“, together with Michael Rauber, Journal of Competition Law, 2010.
“When do Conglomerate Mergers Distort Competition?”, Europäische Zeitschrift für Wirtschaftsrecht, 2007.
“The Leverage Theory in European Competition Law”, Nomos-Verlag, 2006.
Selected Presentations/Podcasts
Podcast: Competition Cast, No 12: Commitments and the Role of Monitoring Trustees in Merger Control, with Stephan Manuel Nagel, January 2022.
NOCON-Webinar with Dr. Marc Zedler (DG Comp) on the European Commission’s merger remedies practice on 24 March 2020.
NOCON-Webinar with Colin Raftery and Maria Duarte (both CMA) on the use of interim measures in merger proceedings on 18 September 2019.
Lecture on “Remedies and Ministerial Authorisation” as part of the lecture series “German and European Competition Law” at the University of Würzburg on 24 July 2019.
NOCON-Webinar with Alistair Thompson (CMA) on the CMA’s merger remedies process on 11 July 2017.
NOCON-Webinar with Dr. Andreas Bardong (Bundeskartellamt) on the Bundeskartellamt’s merger remedies practice on 11 May 2017.
“Use and Role of Trustees to Implement and Enforce Remedies“ and “Lessons Learnt – Evaluation of Merger Remedies“, expert lecturer at an OECD seminar for competition authorities in Budapest, 2015.
Get in touch
Berlin Office
+49 30 166342090
Uhlandstraße 162
10719 Berlin
Germany
London Office
+44 20 38242508
22 Wenlock Road
London N1 7GU
United Kingdom
© NOCON 04_2023
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