The European Court of Justice has upheld a multi-million-euro fine imposed by the European Commission on Austrian banks (the so-called “Lombard Club”) for fixing interest rates.
Category Archives: EU News
Fines Imposed in Concrete Bar Cartel
September 30, 2009 – 8:50 am
The European Commission has imposed fines exceeding over €83m on eight companies for cartelizing the concrete reinforcing bar sector in Italy in violation of Article 65 (1) of the ECSC Treaty.
EU Court Rules Parent Liable for Conduct of Subsidiary
September 25, 2009 – 10:05 am
The European Union’s highest court upheld a €20.99million ($30.6 million) fine against Dutch chemical giant Akzo Nobel NV and four wholly owned subsidiaries for their alleged participation in a cartel over vitamin B4, used mainly in animal feed. Instead of requiring the parent company to play a direct role in violating competition rules, EU law […]
CFI Upholds EC Clearstream Ruling
September 25, 2009 – 10:02 am
The European Court of First Instance has tossed Deusche Borse AG subsidiary Clearstream Banking AG’s challenge of a European Commission decision finding that it abused its dominant market position. The court confirmed a 2004 EC decision finding that 1) Clearstream had a dominant position in the market for primary clearing and settlement; 2) Clearstream’s monopoly of […]
WTO Issues Ruling on Airbus Subsidies
September 21, 2009 – 3:32 pm
The World Trade Organization has issued a long-awaited, but confidential, ruling in a dispute brought by Boeing Inc. over legality of billions of dollars of European Union subsidies given to French aircraft manufacturer Airbus SAS, reportedly finding that these subsidies, which Airbus received for building new aircraft, otherwise known as launch aid, were anti-competitive and broke […]
CFI Upholds Article 82 Ruling for Refusal to Supply
September 10, 2009 – 9:16 am
On Sept. 9, 2009, the European Court of First Instance (CFI) dismissed Clearstream’s challenge to an EC ruling that Clearstream Banking AG and its parent company Clearstream International SA violated Article 82 by refusing to supply clearing and settlement services to one of its customers and by applying discriminatory prices to that same customer.
ECJ Rules that Parent Can Be Liable for Anticompetitive Conduct of Subsidiary
September 10, 2009 – 9:12 am
The European Court of Justice dismissed Akzo Nobel‘s appeal of a 2007 Court of First Instance judgment affirming a fine for cartel activities regarding choline chloride, a feed additive. The fine included the participating subsidiaries as well as the parent company on a theory of joint and several liability. The decision amounts to high court confirmation of the […]
EC Approves Pfizer/Wyeth Merger with Divestures
September 8, 2009 – 4:08 pm
Update September 2009: A group of California pharmacies have filed a challenge to the merger in the Northern District of California. The pharmacies cite the fact that banks receiving TARP money are financing the deal as well as the size of the merged firm as grounds for blocking the deal. Pfizer Inc. has secured the […]
EC Issues Statement of Objection to LCD Suppliers
July 16, 2009 – 4:42 am
The European Commission has issued a Statement of Objections to companies active in the supply of liquid crystal display (LCD) panels. The Statement, issued in May 2009, related to potential cartel activity with respect to the main component of thin, flat monitors used for example in cell phones, TV, monitors, digital watches and calculators.
EC Issues Report on Drug Patenting Issues
July 10, 2009 – 10:23 am
On the heals of the DOJ’s recent tough stance against reverse payment suits, the EC has issued a major report on drug patent issues. Although it backs off tough earlier rhetoric against the industry and places some blame for delay on EU regulation, the Commission also cites patent suits and settlements as the cause of delay. […]