EU Court Upholds €106M In Fines On Austrian Banks

Law360, New York (September 24, 2009, 1:55 PM EDT) -- Europe's highest court has rejected an appeal from four Austrian banks that sought a reduction of €106 million ($155 million) in fines that were imposed on them by European regulators over antitrust violations.

The European Court of Justice issued its ruling Thursday against Erste Bank der osterreichischen Sparkassen AG, Raiffeisen Zentralbank Osterreich AG, Bank Austria Creditanstalt AG and Osterreichische Volksbanken AG.

Erste Bank was ordered to pay €37.7 million ($55.3 million), Raiffeisen Zentralbank and Bank Austria were ordered to pay €30.4 million ($44.6 million) each and...
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