The Supreme Court of the Slovak Republic (the “Supreme Court“) has provided that the judgment delivered the Regional Court in Bratislava (the “Regional Court“) annulling the decision adopted by the Slovak Antimonopoly Office ( “SVK AMO“) dealing with an agreement restricting competition in the banking sector was rightful. Factual background First of all, the case started in 2009 when SVK AMO issued a decision in a proceeding that, according to its findings, banks Československá obchodná banka, a.s. (“CSOB”), Slovenská sporiteľňa, a.s. (“SLSP”), and Všeobecná úverová banka, a.s. (“VUB”) (collectively the “Banks”) entered in a cartel agreement, and imposed a fine on the Banks in the total amount of EUR 10,191,800. The cartel agreement was to be concluded in order to terminate the accounts agreements with the
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The Slovak Supreme Court upholds the annulment judgment delivered by the Regional Court in Bratislava in a potential cartel case (Ceskoslovenska obchodna banka / Slovenska sporitelna / VUB)
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