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International Internet Magazine. Baltic States news & analytics Friday, 28.04.2017, 17:04

Court lifts freeze on EUR 20 mln worth of funds of Veolia's Lithuanian subsidiary

BC, Vilnius, 19.12.2016.Print version
A court has lifted an order that froze almost 20 million euros worth of funds of Vilniaus Energija (Vilnius Energy), a local district heating supplier controlled by France's Veolia, to ensure the payment of a 19-million-euro fine imposed by the Lithuanian Competition Council, reports LETA/BNS.

The Lithuanian Supreme Administrative Court on Monday annulled the Vilnius Regional Administrative Court's order of Nov. 21 to freeze 19 mln euros to cover the maximum possible anti-trust fine and 806,000 euros in interest.


The first instance court said that the freezing order would help ensure the payment of the fine.


The Competition Council slapped the fine on Vilniaus Energija in December 2015 for signing a deal with First Opportunity (formerly Bionovus), an Estonia-registered biofuel supplier, to purchase biofuel exceptionally from the latter company for a period of five years. In the watchdog's opinion, the agreement may have adversely affected competition and consumers.






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