OREANDA-NEWS. On March 21, 2007 the Federal Antimonopoly Service (FAS Russia) initiated a case against Avangard-Garant" Insurance Group CJSC and Joint-Stock Commercial Bank "Avangard" OJSC on the signs of the infringement of the Clause 5 Part 1 Article 11 of the Federal Law "On Protection of Competition" (concerted practices), reported the press-centre of  FAS Russia.

The signs on the infringement of the antimonopoly legislation are perceived in the imposing the debtors of the Commercial Bank "Avangard" OJSC to sign contracts on automobile crediting with Avangard-Garant" Insurance Group.

The case will be considered on April 13, 2007.

Reference:
Clause 5 Part 1 Article 11 of the Federal Law "On Protection of Competition": agreements between economic entities or concerted practices of economic entities are forbidden if such agreements or concerted practices lead or can lead to imposing on a counterparty of contractual terms which are disadvantageous for the latter or are not connected with the subject of agreement.