On 17 April 2014, the EU Parliament adopted a text of the Directive on certain rules governing actions for damages under national law for infringements of the competition law provisions of the Member States and of the European Union (the Directive). The Directive is aimed at facilitating private enforcement of European competition law by eliminating complications that infringement victims currently face when considering compensation claims. Member States will have two years from the Directive coming into force to implement it in their respective legal systems. It is to be expected that these changes will result in a significant rise of damages claims being pursued before national state courts. Furthermore, the preference for arbitration when it comes to large scale cross-border disputes is undeniable. As such, an equivalent rise of EU competition follow-on claims being submitted to arbitration would appear natural.
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This bulletin was first published in Financier Worldwide’s Corporate Disputes Magazine.