GREECE Law and Practice Contributed by: Anna Manda and Maria Kallidopoulou, Karatzas & Partners
involve leniency applicants, the reduction of the fine granted to them for settlement will be added to their leniency reward. With the amendments to the GCA, a significant addition is Article 29A extending the settlement procedure to (inter alia) associations of under - takings and unilateral conduct under Article 1A. Initiation of Settlement Procedure Undertakings may, at any stage before the HCC notifies its statement of objections and no later than 35 calendar days before the hearing of the case if the statement of objections has already been notified, express their interest in engaging in settlement discussions. The decision whether to initiate settlement proceedings, as well as the adoption of a final settlement decision, lie, within the discretion of the HCC. Specifically, the HCC will weigh several factors to determine whether a case is suitable for settlement, such as: • the number of businesses involved in the investigation and the number of businesses potentially and genuinely interested in settle - ment; • the number of settlement requests for the same case; • the number and nature of the alleged infringe - ments; • whether procedural efficiencies and resource savings can be achieved; and
the case is disclosed. This information includes the facts known to the HCC, the specific evi - dence indicating that an infringement exists, and the range of fines that would be imposed. Bilateral meetings are also an opportunity for the parties to make statements and written submis - sions to present their arguments. These are con - fidential and cannot be used in other proceed - ings, such as follow-on damages claims. Upon conclusion of the bilateral discussions, the interested party must ‒ within 30 calendar days – submit a settlement proposal accepting liability for the infringement and the maximum amount of fine. The HCC may accept or reject the set - tlement proposal. If one or more of the alleged participants use their right to opt out of the pro - cedure, the HCC may settle with the remaining alleged participants (ie, resulting in hybrid set - tlements). Outcome of Settlement Procedure If the HCC accepts the settlement proposal, it issues a settlement decision, confirming the infringement and granting a 15% reduction of the administrative fine. The HCC settlement decision is subject to judicial review by the national courts. Provided that the fine imposed by the HCC is paid in full and there is no repeat infringement/ recidivism, then criminal and administrative liability (including fines imposed in non-criminal judicial proceedings) – as well as exclusion from public tenders or concession contracts – will be waived. HCC Precedent Since 2021, the HCC has issued 23 settlement decisions. The HCC issued its first settlement decision in a major cartel case in the construc - tion sector in 2017. Since 2022, the HCC has
• any aggravating circumstances. Proceedings Following Initiation of Settlement Procedure
If the HCC decides to commence the settlement procedure, the HCC and the parties will enter into bilateral discussions. Notably, for the under - takings to make an informed decision, bilateral meetings are held between the HCC and the rel - evant undertakings, in which information about
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