Living with competition law issues seminar – summary of recent developments in competition law
I had a great pleasure to participate in the seminar “Living with competition law issues” organized by the Union Internationale des Avocats (UIA) in partnership with the International League of Competition Law (ILCL), the National Bar Council and the Warsaw Bar Council. The seminar was held on 14th March 2014 under the honorary patronage of Dr. Małgorzata Krasnodębska-Tomkiel – former President of the Polish Office of Competition and Consumer Protection. The said event created a […] read more
The highest ever fine imposed on cartel members in Poland confirmed
SUMMARY On 13 December 2013, the Polish Court of Competition and Consumer Protection confirmed (after 4 years) the decision No DOK-7/09 of the President of the Polish Office of Competition and Consumer Protection (OCCP) to fine the cement cartel members. According to oral justification, the judge of the Court said that the case was very complicated and required a significant amount of time. Additionally, the total amount of fines imposed on cartel members was reduced […] read more
Entrepreneur, don’t collude!
I would like to devote this guest inscription to initiatives that the Office of Competition and Consumer Protection undertakes to effectively protect competition and constantly raise the legal awareness of professional market participants. Our experiences clearly indicate that undertakings’ knowledge of antimonopoly provisions still has not reached a sufficient level, which is proved also by subsequent infringements. However, it is not our objective to impose fines, but prevent any competition-restricting market practices. According to this […] read more
Has the European Commission Become More Severe in Punishing Cartels? Effects of the 2006 Guidelines
This paper analyzes the first 21 cartel decisions of the European Commission under its 2006 revised fining Guidelines. I find that the severity of the cartel fines is about six times higher than those decided under the previous 1998 Guidelines. For the first time in antitrust history, I believe we are observing fines that regularly disgorge the monopoly profits accumulated by cartelists. Indeed, three firms’ fines ranged as high as 500% to 650% of affected […] read more
Doing Business in Egypt after the January Revolution: Capital Market and Investment Laws
Egypt underwent many economic and legal reforms that resulted in remarkable economic growth at the turn of the century. Due to widespread corruption, however, this economic growth mostly benefited the small clique of powerful officials and businessmen. Unsatisfied Egyptians then took their demands for a better life to the streets, culminating in the January Revolution. Although there were other political motivations to the Revolution, socioeconomic stances were at its heart. The Revolution is expected […] read more
Banks’ merger – Santander takes over Kredyt Bank
I have repeatedly referred, in the Polish neswpapers, to the fascinating topic of mergers and acquisitions (M&As) of banks in Poland. Again, I raised the issue at the Business & Law Blog at the end of 2011, where I pointed out that there were four banks in Poland listed for sale by their majority shareholders (Bank Millennium SA, Kredyt Bank SA, DnB Nord SA and Dexia Kommunalkredit Bank Poland SA). One of these banks was […] read more
Hopes and Fears – China’s Anti-Monopoly Law Enforcement in 2011
The promulgation and enforcement of China’s Anti-Monopoly Law (“AML“) after more than a decade of consideration represent a landmark of China’s economic reform. 2011 marks the third anniversary of the commencement of AML. So far, notwithstanding that China’s antitrust regime is not fancy, AML enforcement agencies: the Ministry of Commerce People’s Republic of China (“MOFCOM”), the National Development and Reform Commission (“NDRC“), and the State Administration for Industry and Commerce (“SAIC“) have finalized the enforcement […] read more
Workshop on Polish Supreme Court rulings in cases concerning competition and consumer protection in 2010/11 organized by the Polish Competition Law Association
On behalf of the Competition Law Association, we are pleased to invite you to a workshop on “Supreme Court rulings in cases concerning competition and consumer protection in 2010/11” to take place on February 9th, 2012 at 5:30pm (registration from 5pm onwards) in Warsaw, at the Association’s current seat, i.e. Salans’ offices at Rondo ONZ 1 (30th floor). The workshop will focus on Supreme Court rulings in 2010-2011 in cases involving competition. The general goal […] read more
Romanian Competition Council – record fine for fuel companies
The Romanian Competition Council announced that it has applied a fine of 205 million EUR to the 5 petrol companies active in Romania (OMV Petrom, Rompetrol – owned by KazMunaiGaz -, MOL, Lukoil and ENI) for a concerted practice which planned the simultaneous withdrawal of the leaded gasoline from the market. The practice took place in the period 2007-2008 within the framework of the Romanian Association of the Petrol Companies. The fine is the largest […] read more
Workshop on economic tools and horizontal mergers organized by the Polish Competition Law Association and the firm Competition Economists Group
On 24 November, 2011, the Polish Competition Law Association and the firm Competition Economists Group (CEG) organize the workshop that touches upon economic tools and horizontal mergers, which will be held 17.00 (registration from 16.30) in Warsaw, Salans office, at Rondo ONZ 1 (XXX floor). The speaker will be Nils von Hinten-Reed – the founding director and managing partner of CEG. Nils will be speaking on the economics of damages in the light of the […] read more