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Article: ANTI-TRUST POLICY : AUSTRIAN BANKS LOSE LOMBARD CLUB' CARTEL APPEAL.
- Article from:
- European Report
- Article date:
- September 25, 2009
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The EU Court of Justice, on 24 September, dismissed an appeal by four Austrian banks attempting to overturn a multi-million euro anti-trust fine imposed on them by the European Commission, in 2002.
The court also found that the banks - Erste Group Bank AG (formerly Erste Bank der osterreichischen Sparkassen AG), Raiffeisen Zentralbank Osterreich AG, Bank Austria Creditanstalt AG and Osterreichische Volksbanken AG - commonly known as the Lombard Club' cartel, should pay the costs of the case.
The arguments in joined cases C-125/07 P, C-133/07 P, C-135/07 P and C-137/07 P were rejected on all counts and a 2006 decision by the EU Court of First Instance - ...