The EU Court of Justice upholds the General Court’s ruling on the EU Commission’s duty to pay default interest on reimbursed fines (Printeos)

On 20 January 2021 the European Court of Justice ("ECJ") upheld the General Court's ruling on the European Commission's duty to pay default interest on reimbursed fines as a form of restitutio in integrum, clarifying the rate to be applied and that late payment of interest will itself incur interest. WHAT YOU NEED TO KNOW - KEY TAKEAWAYSUpon reimbursement of a fine provisionally paid in compliance with an antitrust decision, which is subsequently annulled, the company is also entitled to default interest.The default interest rate to be applied is currently that set by the European Central Bank for its principal refinancing operations, plus 3.5 percentage points.If the European Commission

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Giulia Carnazza, Donald Slater, The EU Court of Justice upholds the General Court’s ruling on the EU Commission’s duty to pay default interest on reimbursed fines (Printeos), 20 January 2021, e-Competitions January 2021, Art. N° 99189

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