Court Confirmed FAS Decision on MIAl Bank & Spasskie Vorota
OREANDA-NEWS. February 03, 2012. The Federal Arbitration Court of the Moscow District in the last resort pronounced legitimacy of a decision of Moscow OFAS Russia that “MIA” Commercial Bank” OJSC and “Spasskie Vorota” Insurance Group” CJSC had exercised concerted actions, reported the press-centre of FAS Russia.
On 16th December 2010, the Commission of Moscow OFAS Russia established the fact of imposing disadvantageous contract conditions upon a counteragent or irrelevant to the contract subject by the bank and the insurance company, which is in breach of Clause 5 Part 1 Article 11 of the Federal Law “On Protection of Competition”.
Moscow OFAS Russia received a complaint against actions of “MIA” Commercial Bank” OJSC. The petitioner and members of his family concluded a loan agreement with the bank under the “Social Mortgage” Programme. As specified in the Agreement, by the time of filing a loan application the service consumer had to submit life insurance and disability insurance agreements for the borrower and members of his family to the bank. The life insurance contracts had to be signed only by the insurance company approved by the bank. According to the antimonopoly body, these provisions of the Agreement means imposing services of a particular insurance company upon the borrower, which obstruct further actions of the consumer and limit the number of insurance companies that can provide such services.
The bank and the insurance company disagreed with the conclusions of Moscow OFAS Russia and filed a lawsuit.
On 20th July 2011, the Court of First Instance dismissed the claim of “MIA” Commercial Bank” OJSC.
On 28th September 2011, the Appeal Court took the side of Moscow OFAS Russia.
On 24th January 2012, the Cassation Court also confirmed the fact of the anticompetitive agreement between the bank and the insurance company.