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Romanian High Court Upholds Competition Council Fine on Tiriac Leasing
The High Court of Cassation and Justice (ICCJ) issued a final ruling confirming that Tiriac Leasing IFN SA, now operating as BT Leasing Transilvania IFN SA, breached Romanian competition law by participating in an exchange of commercially sensitive information. The Competition Council had originally fined the company 2.9 million RON after uncovering the transfer of detailed data on future financing transactions, leased‑asset values, financing periods, residual values and portfolio details.
The Court overturned a Bucharest Court of Appeal decision that had annulled the Council’s finding, thereby upholding the sanction. The Council’s 2020 enforcement actions also imposed total fines of 41.2 million RON on the Association of Financial Companies in Romania (ALB) and 16 of its members for similar anti‑competitive practices, and the High Court later affirmed sanctions against several other leasing firms, including Alpha Leasing Romania, Idea Leasing, OTP Leasing Romania, UniCredit Leasing and ALB. A number of other leasing companies chose not to contest the Council’s decisions.
Entities
Association of Financial Companies in Romania (ALB) · High Court of Cassation and Justice (ICCJ) · Romania · Romanian Competition Council · Tiriac Leasing IFN SA (BT Leasing Transilvania IFN SA)
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The High Court reversed a Bucharest Court of Appeal decision that had annulled the Competition Council's finding against Tiriac Leasing. actmedia.eu
- [○ 1 SOURCE] BCR Leasing, Piraeus Leasing, Porsche Leasing and RD Leasing did not challenge the Competition Council's decision. actmedia.eu
- [○ 1 SOURCE] In 2020 the Competition Council fined the Association of Financial Companies in Romania (ALB) and 16 member companies a total of 41.2 million RON for exchanging commercially sensitive information. actmedia.eu
- [○ 1 SOURCE] Tiriac Leasing IFN SA was fined 2.9 million RON for the competition law violation. actmedia.eu
- [○ 1 SOURCE] The exchanged information included values of future financing transactions, leased‑asset values, financing periods, residual values, leasing portfolios and other details. actmedia.eu
- [○ 1 SOURCE] The High Court of Cassation and Justice confirmed that Tiriac Leasing IFN SA violated competition law by exchanging commercially sensitive information. actmedia.eu
- [○ 1 SOURCE] The Competition Council also secured final court decisions upholding sanctions against Alpha Leasing Romania, Idea Leasing, OTP Leasing Romania, UniCredit Leasing and ALB. actmedia.eu