Intel says the EU owes it money

Stefan Mileschin · 23rd June 2022, 08:34

Don't make us come and get it

US chipmaker Intel claims the EU owes it 593 million euros ($624 million) in interest, five months after it convinced Europe's second-top court to scrap a 1.06-billion-euro EU antitrust fine.

Europe's top court paved the way for such damage demands last year in a landmark ruling which ordered the EU executive to pay default interest on reimbursed fines in annulled antitrust cases.

Judges warned that late payment of interest will itself incur interest as well.

Intel in its application to the Luxembourg-based General Court said the Commission, which acts as the competition watchdog in the 27-country European Union, had refused to reimburse the company the default interest.

The Commission returned $1.2 billion to Intel after its court defeat in January this year.

https://fudzilla.com/news/55024-inte...-owes-it-money

23rd June 2022, 08:34	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,575	Intel says the EU owes it money Don't make us come and get it US chipmaker Intel claims the EU owes it 593 million euros ($624 million) in interest, five months after it convinced Europe's second-top court to scrap a 1.06-billion-euro EU antitrust fine. Europe's top court paved the way for such damage demands last year in a landmark ruling which ordered the EU executive to pay default interest on reimbursed fines in annulled antitrust cases. Judges warned that late payment of interest will itself incur interest as well. Intel in its application to the Luxembourg-based General Court said the Commission, which acts as the competition watchdog in the 27-country European Union, had refused to reimburse the company the default interest. The Commission returned $1.2 billion to Intel after its court defeat in January this year. https://fudzilla.com/news/55024-inte...-owes-it-money

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