The EU Court of Justice confirms the liability of a parent company for the conduct of its subsidiaries involved in a cartel (Goldman Sachs)

On 27 January 2021, the Court of Justice of the EU (CJEU) dismissed in its entirety an appeal brought by the Goldman Sachs Group (Goldman Sachs) against a General Court ruling which confirmed Goldman Sachs’ joint and several liability in the 2014 power cables cartel (judgment here). The CJEU confirmed the General Court’s findings that the Commission was entitled to rely on the presumption of decisive influence to attribute liability to Goldman Sachs for the conduct of its subsidiaries, Prysmian and PrysmianCS, which had participated in the power cables cartel between 2005 and 2009. In a significant expansion of the prior case-law concerning parental liability in relation to subsidiaries, the CJEU ruled that the presumption of decisive influence arose from the fact that Goldman Sachs

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Authors

  • Herbert Smith Freehills (Brussels)
  • Herbert Smith Freehills (Brussels)
  • Herbert Smith Freehills (Brussels)

Quotation

Kyriakos Fountoukakos, Daniel Vowden, Agathe Célarié, The EU Court of Justice confirms the liability of a parent company for the conduct of its subsidiaries involved in a cartel (Goldman Sachs), 27 January 2021, e-Competitions January 2021, Art. N° 99132

Visites 201

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues