(...) distinction between company groups and economic groups by suggesting that company groups refer to a more formal (legal) set of relationships generally involving a holding or controlling company and its subsidiaries; whereas an economic group can involve firms that may be unrelated in purpose and may not be formally linked, but nevertheless are related through common control. (...) regulators has made clear that definitions and terms used for groups differ substantially across jurisdictions. International Financial Reporting Standards (IFRS) manage to avoid this definitional problem by applying its requirements for the filing of consolidated accounts to a group of firms controlled by another entity or individuals related to each other. In this context, “control is presumed when the parent acquires more than half of the voting rights of the entity. Even when more than one half of the voting rights is not acquired, control may be evidenced by power: over more than one half of the voting rights by virtue of an agreement with other investors; or to govern the financial and operating policies of the entity under a statute or an agreement; or to appoint or remove the majority of the members of the board of directors; or to cast the majority of votes at a meeting of the board of directors.” © OECD
Corporate group
Institution Definition
Case Comments
Tax rulings: the tax exemptions granted by Belgium to companies forming part of multinational groups constitute an unlawful aid scheme* The General Court thus confirms the decision of the European Commission which found, in 2016, that that tax scheme infringed the EU rules on State aid (...)
Notification of a concentration regarding the acquisition of the share capital of Hawaii Hotels Limited by Fattal Limassol Limited* The Service of the Commission for the Protection of Competition has received notification of a concentration, according to Section 10 of the Control of (...)
Justice Department’s Ongoing Section 8 Enforcement Prevents More Potentially Illegal Interlocking Directorates* Antitrust Division Continues to Focus on Competitors Sharing Company Directors in Violation of Section 8 of the Clayton Act The Justice Department announced today that five more (...)
The Antitrust Division of the US Department of Justice ("DOJ") continues to aggressively pursue alleged illegal interlocking directorates that violate Section 8 of the Clayton Act, and in particular, interlocks involving private equity ("PE") firms and technology companies. On March 9, 2023, (...)
The CPC addressed a statement of objections to DP NKZI alleging the company has abused its dominant position, which can prevent, restrict or distort competition in the market for freight rail transport in the country and affect consumers’ interests* With Ruling № 67/19.01.2023 on case № (...)
On January 25, 2023, the General Court of the Union issued a judgment in case T-640/16 RENV (GEA Group AG v. European Commission). It will be recalled that in 2009, the Commission imposed fines of €173 million on ten producers of heat stabilizers for fixing prices, sharing customers, (...)
Heat stabilizers had not inspired the Commission to take precisely lukewarm decisions; the European Union General Court takes the matter further with January 25, 2023(T-640/16 RENV, GEA Group). As a reminder, in a decision dated November 11, 2009 (case COMP/38589), the European Commission (...)
On January 18, 2023, the Commission announced that it had opened an in-depth investigation to determine whether certain French support measures for Fret SNCF comply with EU state aid rules. From 2007 to 2019, Fret SNCF has seen its losses continuously covered by its parent company SNCF (...)
On November 8, 2022, the Court of Justice of the European Union issued its judgment in the joined cases C-885/19 (Fiat Chrysler Finance Europe v. European Commission) and C-898/19 (Ireland v. European Commission) both concerning the advance tax ruling granted by the Luxembourg authorities to (...)
On Wednesday, October 19, 2022, the Department of Justice Antitrust Division (DOJ) announced that seven directors resigned from their board positions because of DOJ’s concerns that holding the positions violated the Clayton Act’s prohibition on interlocking directorates. Discussed more fully (...)
On 19 October 2022, the Antitrust Division of the US Department of Justice (the Division) announced that seven directors have agreed to resign from the boards of directors of five companies in response to the Division’s “competition concerns” related to the Clayton Act’s prohibition on (...)
On September 15, 2022, the Court of Justice of the Union delivered its judgment in case C-705/20 (Fossil (Gibraltar) Limited v Commissioner of Income Tax) which follows a reference for a preliminary ruling from the Gibraltar Income and Profits Tax Tribunal [United Kingdom]. The present case (...)
Under a 2010 Income Tax Act [hereinafter "ITA 2010"], passive interest income and intellectual property royalties [hereinafter "relevant income"] were not considered taxable income in Gibraltar. The same Act also introduced a mechanism for the avoidance of double taxation in section 37. (...)
On June 8, 2022, the General Court of the European Union issued a judgment in joined cases T-363/19 and T-456/19 (United Kingdom and ITV plc v. European Commission). In it, he dismissed in its entirety the action brought by the United Kingdom and by ITV plc against the Commission decision of (...)
On May 18, 2022, the General Court of the European Union delivered its judgment in case T-577/20 (Ryanair v. European Commission) 380 million to the German airline Condor, which in 2019 experienced a severe liquidity shortage following the liquidation of its parent company, the Thomas Cook (...)
Articles
This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (...)
This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (...)
This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (...)
In the following select points from the Austrian and German legal systems will be presented with relevant case law. In particular, the report will identify and discuss a number of hotly debated topics and the most recent developments, including defendants’ “group liability,” collective (...)
This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (...)
Interview conducted by Eleanor Fox, Walter J. Derenberg Professor of Trade Regulation, NYU Law, New York. Professor Stiglitz, you have given a great deal of thought to competition policies in developing countries and you have been very important in helping many of them frame their policy (...)
On April 30, 2019, the US Department of Justice released a new guidance on the evaluation of corporate compliance programs. The guidance is centered around three key questions: (1) Is the Compliance Program well designed?; (2) Is the Compliance Program effectively implemented?; and (3) Does (...)
Winston Kiang, Greater Asia Regional Competition Counsel at Intel, discusses the unique competition challenges facing business in Asia. In particular, he highlights difficult issues related to attorney-client privilege, dawn raids, and due process. He also offers insight into how lawyers can (...)
This section selects books on themes related to competition laws and economics. This compilation does not attempt to be exhaustive but rather a survey of themes important in the area. The survey usually covers publication over the last three months after publication of the latest issue of (...)
This paper was presented at the University of Nice in the framework of a colloquium in the honor of Professor A. Pirovano. It studies the different uses of the concept of “undertaking” or “entrerpirse” in the different components of EU competition law with references to French law. 1. While (...)
Parental liability within a group of companies is the major topic discussed before the Court of Justice in 2011. This article, which is based on a presentation made for a colloquium organised by specialists of criminal law, draws the conclusions of the recent case law on two points: (...)
When a parent company and its non-autonomous subsidiary file two separate bids in a public procurement, is it appropriate to apply article 420-1 of the Commerce code and/or article 101 of the TFEU if collusion has occurred? According to the French jurisdictions and the French Competition (...)
Events
2nd webinar of the 5th « Antitrust in Financial Sector » Conference organised by Concurrences and Morgan Lewis in partnership with Advocacia José Del Chiaro, Charles River Associates and Cornerstone Research, with Linda Cenedella (Partner, Morgan Lewis), Dennis Davis (Former President, Competition Appeal Court Of South Africa), Maria Velentza (Director Financial Services, DG COMP), Graciela Miralles (Senior Economist, The World Bank), Oliver Latham (Vice President, CRA), Vivek Mani (Principal, Cornerstone Research), Ademir Antonio Pereira Junior (Partner, Advocacia José Del Chiaro), and Jon Roellke (Partner, Morgan Lewis).
Annual Concurrences conference at NYU Stern School of Business with the support of Axinn, Bates White, CRA, Hausfeld, Qualcomm, Shearman & Sterling, Skadden, White & Case (Panel Sponsors) and MLex (Media Sponsor).
Lunchtalk organized by Concurrences Review in partnership with DLA Piper and Suez environnement.
Law & Economics Workshop with Laure Dosogne-Varaire (Autorité de la concurrence), in partnership with Simmons & Simmons and Compass Lexecon.
Law & Economics Workshop organized by Concurrences in partnership with McDermott Will & Emery and Tera Consultants.
Antitrust Procedure Workshop organized by Concurrences in partnership with Gide Loyrette Nouel.