Eimskip: Icelandic Competition Authority‘s investigation is claimed illegal and should be ceased

Eimskip’s Board of Directors decided today to file a court case based on Article 102 of the Icelandic criminal procedure act, claiming that the investigation conducted by the Icelandic Competition Authority on the Company and its subsidiaries, which has been ongoing for nearly a decade, is ceased. Eimskip will file this case at the District Court of Reykjavík tomorrow 1 July 2019.

Eimskip’s arguments are among other things based on the fact that the investigation of the Icelandic Competition Authority was formally cancelled in June 2015. Then the investigation is based on illegal seizure of documents and that the Icelandic Competition Authority has violated the principle of objectivity during the investigation. Also, the Icelandic Competition Authority has in fact executed the criminal investigation which it is not allowed under Icelandic law. Therefore the employees of the Icelandic Competition Authority should be disqualified with reference to the Icelandic Administrative Procedures Act.

Furthermore Eimskip’s demands are based on the fact that the investigation of the Icelandic Competition Authority is directed towards incorrect legal entities as relates to significant term of the investigation. Because of the conduct of the investigation, a majority of the alleged infringements have lapsed.

These defects of the investigation lead to the conclusion that the investigation of the Icelandic Competition Authority is illegal and should therefore be ceased.

Concurrently Eimskip has written a letter to the Board of Directors of the Icelandic Competition Authority to inform the Board of the procedure of the Icelandic Competition Authority which Eimskip’s demands are based on.

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