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Focus Antitrust - 16 March

16 March 2016

In The News

Court of Appeal rejects competition argument that loan agreements based on LIBOR are void

The Court of Appeal has upheld a judgment of the High Court, which concluded that there was no real prospect that loan agreements setting interest by reference to LIBOR would be held to be void, in view of alleged unlawful agreements between banks fixing LIBOR.  The Court held that there was no authority that indicated that vertical agreements are void as a result of a horizontal agreement infringing Article 101 or the Competition Act 1998. Click here.  

European Court of Justice annuls Commission decisions relating to requests for information directed at cement manufacturers 

In an appeal against European Commission decisions relating to requests for information, the ECJ has concluded that the statement of reasons in the decisions did not meet the requisite legal standard. The ECJ held that the statement of reasons was excessively brief, vague and generic, having regard in particular to the considerable length of the questions asked. Click here.


Articles 101 and 102
  • The ECJ has granted an order for interim measures in relation to an appeal against a European Commission decision rejecting a request for confidential treatment for part of the Commission’s bleaching chemicals cartel decision. The interim measures prevent the Commission from publishing the disputed decision until final judgment has been given in the appeal. Click here.
  • The European Commission has approved the proposed acquisition of the generics business of Allergan by Teva.  The decision is conditional on the divestment of a number of assets, including the majority of Allergan Generics' business in the UK and Ireland. Click here.


  • The CMA has published the summary of its provisional decision on remedies in relation to its energy market investigation. Click here.
  • The CMA has cleared the award of the TransPennine Express rail franchise to First TransPennine Express Limited, a subsidiary of FirstGroup. Click here.
  • The CMA has provisionally decided to release FirstGroup from the undertakings given in relation to the completed acquisition of SB Holdings Ltd in 1996. Click here.

For more information please contact Paul Stone on +44 (0)20 7203 5110 or at paul.stone@crsblaw.com