EU Law and Interest on Damages for Infringements of Competition Law: A Comparative Report

340 Pages Posted: 16 Apr 2016

See all articles by Giorgio Monti

Giorgio Monti

European University Institute - Department of Law (LAW); European University Institute

Barend Van Leeuwen

Durham University

Viktoria H.S.E. Robertson

University of Graz

Caroline Cauffman

Maastricht University

Pavlina Hubkova

University of Economics, Prague

Katri Havu

University of Helsinki

Rafael Amaro

Université Paris V Rene Descartes

Maria José Schmidt-Kessen

Copenhagen Business School - CBS Law

Maria Stasi

European University Institute - Robert Schuman Centre for Advanced Studies (RSCAS)

Miguel Sousa Ferro

University of Lisbon Law School

Ján Husár

Pavol Jozef Šafarik University

Kristian Csach

Pavol Jozef Šafarik University

Alexandre Ruiz Feases

European University Institute - Department of Law (LAW)

Magnus Strand

Uppsala University

Katarzyna Szreder

European University Institute

Date Written: 2016

Abstract

This long working paper (EUI interest study) explores the differences between national legal systems and assesses whether they are EU law compliant when it comes to the calculation of interest on damages resulting from antitrust infringements. The first chapter of the working paper addresses three issues: the principles that emerge from the case law of the CJEU when assessing the compliance of national rules in damages actions; the principles that emerge from EU legislation and the case law of the CJEU when considering the notion of interest payments; an assessment, based on the EU law system, of thirteen member state approaches to interest. The subsequent chapters are national reports which form the basis for the assessment to be found in chapter 1. We note that many legal systems require some reconsideration of the national approach to interest to ensure that claimants are afforded full compensation. This study comes at a time when the 28 EU member States are in the process of implementing Directive 2014/104/EU, without however being very specific on the calculation of interest. In presenting the specific features of thirteen national regimes, this working document provides guidance to all interested parties on the scope of interest as fundamental part of the EU right to full compensation. It might prove especially useful to judges in cases that call for the application of foreign laws to damages claims. This EUI interest study has been initiated and supported by CDC Cartel Damage Claims Consulting SPRL, Brussels with the aim to extend the study to the legal systems of all other EU Member States. It seeks to raise awareness of the substantial differences and potentially significant consequences thereof for the right to full compensation of damages following infringements of competition law.

Keywords: EUI interest study; Private enforcement of competition law; Right to full compensation; Accrual of interest on damages amounts; Principle of effectiveness

Suggested Citation

Monti, Giorgio and Van Leeuwen, Barend and Robertson, Viktoria H.S.E. and Cauffman, Caroline and Hubkova, Pavlina and Havu, Katri and Amaro, Rafael and Schmidt-Kessen, Maria José and Stasi, Maria and Sousa Ferro, Miguel and Husár, Ján and Csach, Kristian and Ruiz Feases, Alexandre and Strand, Magnus and Szreder, Katarzyna, EU Law and Interest on Damages for Infringements of Competition Law: A Comparative Report (2016). EUI Department of Law Research Paper No. 2016/11. Available at SSRN: https://ssrn.com/abstract=2753528 or http://dx.doi.org/10.2139/ssrn.2753528

Giorgio Monti (Contact Author)

European University Institute - Department of Law (LAW) ( email )

Via Bolognese 156 (Villa Salviati)
50-139 Firenze
Italy

European University Institute ( email )

Villa La Fonte, via delle Fontanelle 18
50016 San Domenico di Fiesole
Florence, Florence 50014
Italy

HOME PAGE: http://www.eui.eu/DepartmentsAndCentres/Law/People/Professors/Monti.aspx

Barend Van Leeuwen

Durham University ( email )

Old Elvet
Mill Hill Lane
Durham, Durham DH1 3HP
United Kingdom

Viktoria H.S.E. Robertson

University of Graz ( email )

Universitätsstraße 15/C4
Graz, 8010
Austria

HOME PAGE: http://www.uni-graz.at

Caroline Cauffman

Maastricht University ( email )

P.O. Box 616
Maastricht, 6200MD
Netherlands

Pavlina Hubkova

University of Economics, Prague ( email )

nam. W.Churchilla 4
Prague 3, 130 67
Czech Republic

Katri Havu

University of Helsinki ( email )

Faculty of Law
Yliopistonkatu 3, P.O. Box 4
Helsinki, FIN-00014
Finland

Rafael Amaro

Université Paris V Rene Descartes ( email )

31, avenue Bosquet
Paris, 75270
France

Maria José Schmidt-Kessen

Copenhagen Business School - CBS Law ( email )

Porcelaenshave 18B, 1
Frederiksberg 2000
Denmark

Maria Stasi

European University Institute - Robert Schuman Centre for Advanced Studies (RSCAS) ( email )

Villa La Fonte, via delle Fontanelle 18
50016 San Domenico di Fiesole
Florence, Florence 50014
Italy

Miguel Sousa Ferro

University of Lisbon Law School ( email )

Alameda da Universidade, Cidade Universitária
Lisboa, 1649-014
Portugal

Ján Husár

Pavol Jozef Šafarik University ( email )

Košice, Popradská 6, 041 32
Slovakia

Kristian Csach

Pavol Jozef Šafarik University ( email )

Košice, Popradská 6, 041 32
Slovakia

Alexandre Ruiz Feases

European University Institute - Department of Law (LAW) ( email )

Via Bolognese 156 (Villa Salviati)
50-139 Firenze
Italy

HOME PAGE: http://me.eui.eu/alexandre-vicent-ruiz-feases/

Magnus Strand

Uppsala University ( email )

Box 513
Uppsala, 751 20
Sweden

Katarzyna Szreder

European University Institute ( email )

Villa Schifanoia
133 via Bocaccio
Firenze (Florence), Tuscany 50014
Italy

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