COBALT successfully represented Swedbank

COBALT successfully represented Swedbank, the Estonian subsidiary of a major full-service banking group operating in the Nordic and Baltic countries as well as the U.S., China, Russia and Ukraine, in market investigation proceedings conducted by the Estonian Competition Board in respect of interchange fees payable between banks in connection with the use of debit and credit cards. Interchange fees have been lately subject to scrutiny by the European Commission and national competition authorities across the European Union resulting in the banks being fined for breach of competition laws in Latvia and several other countries. The Estonian Competition Board terminated the proceedings without any negative consequences for the banks.

The project legal team included partner Marti Hääl, senior associate Kristel Raidla-Talur and associate Kätlin Kiudsoo.