The First Identified Instance of a Breach of the EU Treaty Competition Rules: NNDKP Obtained the Annulment of the Competition Council’s Fine for a Large Pensions Fund
The Bucharest Court of Appeals has annulled the Competition Council’s decision to impose a fine on a large pensions fund for breach of competition rules, ending a dispute which started in 2010. It was the first instance where the competition authority found a breach not only of the Competition Law, but also of the Treaty on the Functioning of the European Union.
The project was coordinated by Partner, Sorina Olaru (Creţu), of the Litigation Department, and Managing Associate, Georgeta Harapcea (Dinu), Head of the Competition Practice Area.
Georget Harapcea commented:
“I strongly believed in this case from the very beginning of the investigation and of the hearings before the Competition Council. I could not agree with a market sharing conclusion that failed to take into account the actual context in which the events unfolded.”
Sorina Olaru added:
“The court’s decision confirms that the pensions fund did not restrict competition, but acted in order to secure the participants’ interests, helping them join the pension fund they opted for instead of being randomly allocated to any fund.”