Despite the Court of Cologne’s acknowledgment that the prohibition of the proposed 2010 sale of GN to Sonova was unlawful and that the German Federal Cartel Office had breached its official duty, the Düsseldorf Court of Appeal says it will dismiss GN Store Nord’s appeal and its claim for compensation for damages.
According to GN, on December 22, 2010, GN Store Nord filed a claim of EUR 1.1 billion (about US$1.5 billion) as compensation for the significant loss imposed on GN and its shareholders in relation to the German Federal Cartel Office’s unlawful prohibition of the sale of GN ReSound to Sonova on April 11, 2007.
On February 26, 2013, the Court of Cologne dismissed GN’s claim. The Court of Cologne acknowledged that the prohibition of the sale was unlawful, and the Federal Cartel Office had breached its official duty, but claimed that the unlawful prohibition did not result in liability for the German Federal Cartel Office.
GN disagreed with the decision by the court and decided to appeal the decision on March 26, 2013.
Today, on March 5, 2014, the Düsseldorf Court of Appeal has notified that it will dismiss GN Store Nord’s appeal in its case against the German Federal Cartel Office on March 26, 2014. GN says it will, upon receipt of the written reasons for the judgment, decide whether or not it will appeal the decision to the Federal Supreme Court.
Source: GN Store Nord
