The Panevezys Regional Court by the ruling dated 20 April 2021 in the case of payment of the interest calculated by the Competition Council of the Republic of Lithuania for the whole period of judicial proceedings when the Company litigated the fine imposed on the Company by the Competition Council has left the court ruling by the Panevezys Chamber of the Panevezys District Court unaffected.
The Company is reviewing the motives set out in the court ruling and will make the decision on appealing to the Supreme Court of Lithuania in the nearest future. In the opinion of the Company, even after the ruling by the Panevezys Regional Court there are ambiguities remaining in respect of practical application of the rules for interest calculation provided for in the Law on Competition of the Republic of Lithuania. Therefore, the Company thinks that the position of the Court of Cassation in this case would be important and would set a significant precedent for future situations.
More information:
Managing Director
Egidijus Urbonas
Tel.: (+370 45) 505 503
