The Danish Supreme Court upholds two decisions by the Danish Competition Authority in relation to commitments given in a merger case (Nykredit)

On 3 June 2014, the Danish Supreme Court upheld two decisions by the Danish Competition Council in which it decided (i) that a commitment without any specific mention of time limit was unlimited in time; and (i) that the Danish Competition Council enjoys a margin of appreciation in matters of competition related assessments. Background On 14 October 2003, the Danish Competition Council (“DCC”) approved the merger between the two mortgage credit institutions Nykredit A/S (“Nykredit”) and Totalkredit A/S with a number of commitments. Pursuant to one of these commitments Nykredit undertook to reduce its administration fee to 0.5 pct. of the outstanding debt (“Commitment no 5”). The dicision did not specify any duration for Commitment no 5. In February 2010, Nykredit announced that it would

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  • Danish Competition and Consumer Authority (Copenhagen)

Quotation

Jacob Borum, The Danish Supreme Court upholds two decisions by the Danish Competition Authority in relation to commitments given in a merger case (Nykredit), 3 June 2014, e-Competitions Bulletin June 2014, Art. N° 68834

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