The Spanish Competition Appeal Court reduces the fine imposed on a savings bank for lack of assessment on the anticompetitive effects caused by the exchange of information and other restrictions by effect (Bilbao Bizkaia Kutxa)

In its judgment of December 10, 2009 on the appeal brought by Bilbao Bizkaia Kutxa (“BBK”) against the Decision of the Spanish National Competition Authority (hereinafter CNC) of October 18, 2007 in the Basque and Navarre Savings Banks [1],case, the “Audiencia Nacional” has halved the fine imposed by the Spanish regulator on the defendant [2]. Moreover, the Audiencia Nacional (hereinafter “AN”) corrected in part the factual findings of the CNC. The judgment confirms that the AN is eagerto review the CNC analysis regarding both the facts considered in its decisions and the calculation of the fine. The origins of this lengthy case go back more than two years, when the Tribunal de Defensa de la Competencia (the second tier Spanish competition authority prior to the entry into force of the new

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Aitor Montesa Lloreda, Angel Givaja Sanz, The Spanish Competition Appeal Court reduces the fine imposed on a savings bank for lack of assessment on the anticompetitive effects caused by the exchange of information and other restrictions by effect (Bilbao Bizkaia Kutxa), 10 décembre 2009, e-Competitions December 2009, Art. N° 31477

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