- The Supreme Court of Lithuania annulled the decisions of the courts of first and appeal instance and remitted the case to the Appeal court. The Supreme Court interpreting the provisions of the Competition Law regarding the calculation of interest stated that the Apeal court misapplied the provisions of the Competition Law governing the procedure for calculating the interest due for non-payment of fines for competition law infringements and ruled that the maximum interest period of 180 days shall be applied.
- According to the PST the bailiff's order under appeal calculated interest for the entire period of the court proceedings and for an additional 180 days which amounts to EUR 1,385,178.76, the recalculated amount of interest for 180 days should amount to EUR 251,906.30
- PST has already paid EUR 2,165,415 in execution of the decision of the Competition Council, despite the dispute in the courts.
More information:
Managing Director
Egidijus Urbonas
Tel.: (+370 45) 505 503
