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Document 62015TA0180
Case T-180/15: Judgment of the General Court of 10 November 2017 — Icap and Others v Commission (Competition — Agreements, decisions and concerted practices — Yen interest rate derivatives sector — Decision finding six infringements of Article 101 TFEU and Article 53 of the EEA Agreement — Manipulation of the JPY LIBOR and Euroyen TIBOR interbank reference rates — Restriction of competition by object — Participation of a broker in the infringements — ‘Hybrid’ settlement procedure — Principle of the presumption of innocence — Principle of sound administration — Fines — Basic amount — Exceptional adjustment — Article 23(2) of Regulation (EC) No 1/2003 — Obligation to state reasons)
Case T-180/15: Judgment of the General Court of 10 November 2017 — Icap and Others v Commission (Competition — Agreements, decisions and concerted practices — Yen interest rate derivatives sector — Decision finding six infringements of Article 101 TFEU and Article 53 of the EEA Agreement — Manipulation of the JPY LIBOR and Euroyen TIBOR interbank reference rates — Restriction of competition by object — Participation of a broker in the infringements — ‘Hybrid’ settlement procedure — Principle of the presumption of innocence — Principle of sound administration — Fines — Basic amount — Exceptional adjustment — Article 23(2) of Regulation (EC) No 1/2003 — Obligation to state reasons)
Case T-180/15: Judgment of the General Court of 10 November 2017 — Icap and Others v Commission (Competition — Agreements, decisions and concerted practices — Yen interest rate derivatives sector — Decision finding six infringements of Article 101 TFEU and Article 53 of the EEA Agreement — Manipulation of the JPY LIBOR and Euroyen TIBOR interbank reference rates — Restriction of competition by object — Participation of a broker in the infringements — ‘Hybrid’ settlement procedure — Principle of the presumption of innocence — Principle of sound administration — Fines — Basic amount — Exceptional adjustment — Article 23(2) of Regulation (EC) No 1/2003 — Obligation to state reasons)
OJ C 5, 8.1.2018, p. 26–27
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
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8.1.2018 |
EN |
Official Journal of the European Union |
C 5/26 |
Judgment of the General Court of 10 November 2017 — Icap and Others v Commission
(Case T-180/15) (1)
((Competition - Agreements, decisions and concerted practices - Yen interest rate derivatives sector - Decision finding six infringements of Article 101 TFEU and Article 53 of the EEA Agreement - Manipulation of the JPY LIBOR and Euroyen TIBOR interbank reference rates - Restriction of competition by object - Participation of a broker in the infringements - ‘Hybrid’ settlement procedure - Principle of the presumption of innocence - Principle of sound administration - Fines - Basic amount - Exceptional adjustment - Article 23(2) of Regulation (EC) No 1/2003 - Obligation to state reasons))
(2018/C 005/35)
Language of the case: English
Parties
Applicants: Icap plc (London, United Kingdom), Icap Management Services Ltd (London) and Icap New Zealand Ltd (Wellington, New Zealand) (represented by: C. Riis-Madsen and S. Frank, lawyers)
Defendant: European Commission (represented by: V. Bottka, B. Mongin and J. Norris-Usher, acting as Agents)
Re:
Action brought under Article 263 TFEU for annulment of Commission Decision C(2015) 432 final of 4 February 2015 relating to proceedings under Article 101 TFEU and Article 53 of the EEA Agreement (Case AT.39861 — Yen Interest Rate Derivatives), and, in the alternative, for a reduction in the amount of the fines imposed on the applicants in that decision.
Operative part of the judgment
The Court:
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1. |
Annuls Article 1(a) of European Commission Decision C(2015) 432 final of 4 February 2015 relating to proceedings under Article 101 TFEU and Article 53 of the EEA Agreement (Case AT.39861 — Yen Interest Rate Derivatives), inasmuch as it relates to the period after 22 August 2007; |
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2. |
Annuls Article 1(b) of Decision C(2015) 432 final; |
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3. |
Annuls Article 1(d) of Decision C(2015) 432 final inasmuch as it relates to the period from 5 March to 27 April 2010; |
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4. |
Annuls Article 1(e) of Decision C(2015) 432 final inasmuch as it relates to the period prior to 18 May 2010; |
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5. |
Annuls Article 1(f) of Decision C(2015) 432 final inasmuch as it relates to the period prior to 18 May 2010; |
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6. |
Annuls Article 2 of Decision C(2015) 432 final; |
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7. |
Dismisses the action as to the remainder; |
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8. |
Orders Icap plc, Icap Management Services Ltd and Icap New Zealand Ltd to bear one quarter of their own costs; |
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9. |
Orders the Commission to bear its own costs and to pay three quarters of the costs of Icap, Icap Management Services and Icap New Zealand. |