A bank customer sued an international bank for damages which were caused by the manipulation of the LIBOR. He claimed that because of this manipulation he had to pay higher interest for a loan which he took from an Austrian bank. The damage was caused in Austria. Case law of the ECJ allows companies to sue at their place of business in cases of infringements of cartel law. The infringement of cartel law had already been established by the European Commission. The Austrian Supreme Court for Civil Matters ruled that in this type of situation, bank customers shall also be allowed to sue at their place of residence. (4Ob120/16z)
Juristiction in cartel law matters
