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MAXIMA LT PAID A FINE OF EUR 13 666 216 FOR AN ANTI-COMPETITIVE AGREEMENT

MAXIMA LT sumokėjo baudą.jpg

After the final ruling of the Supreme Administrative Court of Lithuania MAXIMA LT, UAB (MAXIMA LT) paid a fine of EUR 13 666 216 and EUR 1 082 095,46 of interest. The Competition Council fined MAXIMA LT for a 10-year-long anti-competitive agreement with UAB Mantinga. The parties agreed to refrain from selling bread and other bakery products produced by UAB Mantinga in MAXIMA LT shops below the base price.

Besides, the Court upheld the EUR 2 151 417 fine imposed on UAB Mantinga, which has not been paid yet.

The Competition Council notes that in the event of appeal against the authority‘s decision, undertakings may not pay the fine imposed by the Council until the final ruling of the court has been delivered. However, if the court upholds the Council’s decision, undertakings have to pay both the fine and 6% annual interest.

In 2015 courts upheld about 90 % of the Competition Council‘s decisions.

Information on the imposed and paid fines can be found here.