EU COUNCIL GIVES DIRECTIVE ON COMPETITION DAMAGES ACTIONS THE GREEN LIGHT

Today (10 November 2014), the Council formally adopted the corrigendum text as approved by the ECON Committee in September 2014 for the Directive on antitrust damages actions.
The text was signed off without amendments and it is therefore expected that the text of the Directive, which will shortly be published in the Official Journal of the EU, will reflect the draft approved by the European Parliament in April earlier this year.
The adoption of the Directive has prompted a mixed reaction. Some Member States (namely Germany, Poland and Slovenia) have expressed their dissatisfaction with the text of the Directive which they consider insufficient in order to ensure SME’s rights to claim damages. On the other hand, the Commission welcomed the adoption of the Directive as fundamental in aiding citizens and companies to claim damages caused by antitrust infringements.
In this context, the EU Commissioner in charge of competition policy Margrethe Vestager stated that “We need a more robust competition culture in Europe. So I am very glad that the Council has now also formally approved the Directive on antitrust damages actions. I am very pleased that it will be easier for European citizens and companies to receive effective compensation for harm caused by antitrust violations.”
The Directive will be published following its formal adoption at the Plenary session of the European Parliament which will be held at the end of November 2014, and it will enter into force 20 days after the publication.
From thereon, the Member States will have two years within which to implement the Directive.
The official press release of the European Commission is available here.
Source: European Commission