Bank's Licensing Claim Doesn't Nix Antitrust Fine: EU Court

Law360, New York (February 7, 2013, 6:40 PM EST) -- The European Union's highest court ruled Thursday that a Slovakian bank couldn't defend itself from a €3.2 million ($4.3 million) antitrust fine for conspiring to put a rival out of business by arguing that the competing financial institution wasn't properly licensed.

For the purposes of the bloc's competition rules, it does not matter that Akcenta CZ AS might have been operating illegally as long as the goal of three banks' agreement was to inhibit competition, the European Court of Justice concluded.

"It is apparent ... that...
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