November 29
2021
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Anjum Shabbir
Anjum Shabbir
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1st February 2021
Banking & Finance Competition & State Aid Justice & Litigation

Analysis: “The Court of Justice Rules Once More On Parent Company Liability” by Patricia Pérez Fernández

The concept of parental liability makes a parent company responsible for antitrust infringements committed by its subsidiaries. The European Commission and European Courts have historically applied this principle broadly. It was further extended by a judgment of 27 January 2021 in case C-595/18 P, The Goldman Sachs Group Inc v European Commission, to cover situations where a parent company controls 100% of the voting rights in a subsidiary.

In this case, the appellant’s (The Goldman Sachs Group) holding in its subsidiary (Prysmian) was initially 100% of the shares. The level of that holding decreased, following two divestments, to 84.4%, while continuing to control 100% of the voting rights of the subsidiary.

The appellant

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