Administrative Court cancels watchdog’s €18.1m fine on BOC

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Administrative Court cancels watchdog’s €18.1m...
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By Stelios Orphanides

The Administrative Court cancelled a decision of the competition watchdog to fine JCC Payment Systems €1.7m and Bank of Cyprus €18.1m, citing the deficient composition of the Commission for the Protection of Competition.

The court said that one of the members of the Commission at the time the latter took its decision in January 2016 –and communicated it to the appellants four months later–, had a “peculiar relation” to Bank of Cyprus and the “special interest of hostility,” the court said in its 20-page ruling. The Commission launched...


This article was automatically added to our system 21-6-2018

Administrative Court cancels watchdog’s €18.1m fine on BOC


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