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All Damaged Parties Should Have the Right to Compensation for Harm Caused by a Cartel

All Damaged Parties Should Have the Right to Compensation for Harm Caused by a Cartel

Czech Republic
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In a preliminary ruling procedure, the Court of Justice of the European Union confirmed that the law of the Member States must make it possible for compensation for damages caused by a cartel to be granted to persons who are not direct participants in the market in which the cartel operates.

The dispute in the main proceedings was brought by the state of Upper Austria against a cartel of elevator manufacturers. Upper Austria provided soft loans to support the construction of apartment buildings.

As a result of the increased elevator prices caused by the cartel, Upper Austria granted a higher volume of loans and the loss it suffered consisted in the opportunity cost of not investing these funds at a higher interest rate. The CJEU concluded that the cartel could also be liable for such damage.

By Lenka Petrakova, Junior LawyerJSK

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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