UAB MANTINGA PAID A FINE FOR A 10-YEAR-LONG ANTI-COMPETITIVE AGREEMENT |

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UAB MANTINGA PAID A FINE FOR A 10-YEAR-LONG ANTI-COMPETITIVE AGREEMENT

06 09 2016

anti-competitive agreements, fines

Last week after the final ruling of the Supreme Administrative Court of Lithuania UAB Mantinga paid a fine of EUR 2 151 417 and EUR 192 569 of interest. The Competition Council (hereinafter – Council) fined UAB Mantinga for a 10-year-long anti-competitive agreement with MAXIMA LT, UAB (hereinafter –MAXIMA LT). The parties agreed to refrain from selling bread and other bakery products produced by UAB Mantinga in MAXIMA LT shops below the base price.

In July this year MAXIMA LT paid a fine of EUR 13 666 216 and EUR 1 082 095 of interest.

The 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 Council‘s decisions.

So far this year the companies have paid EUR 18 617 923 in fines.

Last updated: 14 09 2016