In Wenzel Logistics v Mercedes-Benz, the European Court of Justice (CJEU) confirmed that Austrian civil-law rules which postpone the accrual of interest until the debtor has been put on notice cannot be applied where they prevent full compensation for harm caused by an infringement of EU competition law. Interest must accrue from the time the […]
Interest on cartel damages
Suppose that in 2002, a cartel caused EUR 1,000 in damages to a victim. Is the victim 20 years later entitled to only EUR 1,000? Of course not. The amount must be adjusted for interest. EU law is clear on this point, along with the requirement that interest must accrue as of the time the damage occurred. Other modalities, however, are left to national laws. When working out interest in any concrete case, several common issues should be considered. The following attempts to foster systematic treatment of this interesting (sic!) topic.