COBALT advises banks in a cartel investigation

Advising 21 banks (via Latvian Commercial Banks Association) in a cartel investigation and 13 banks in an appeal against the competition authority’s decision in connection with the payment settlement agreement concluded by the banks and establishing local multilateral interchange fees (MIF). The case is the largest cartel investigation in Latvia to date in terms of the number of parties involved and complexity of data, and one of the first involving engagement of foreign economists.