Decision of the Arbitration Court of Moscow In the name of the Russian Federation
Court of Arbitration of Moscow
In the name of the Russian Federation
DECISION
24 June 2004
COURT OF ARBITRATION composed of:
Chair: T.V. Gorodilina
Members of the Court: in her personal capacity,
with court records performed by the arbitrator T.V. Gorodilina,
having examined the case initiated by the claim filed by PLC «Russian State Insurance Company» (Rosgosstrakh) against the Federal Antimonopoly Service of the Russian Federation
with third parties: LLC «Rosgosstrakh-Accord», LLC «K.F. Stelt», LLC «Mega-Intellect», LLC «Nordtradegroup», PLC «Insurance Company «Accord», PLC «Insurance Company Accord-Garant», LLC «Shareholding Insurance Company «Socinvest», PLC «Insurance Company «Vostok», seeking to invalidate decisions and prescriptions of 10/12/03,
with the participation of the following persons:
for the Claimant: K.V. Galitskov, power of attorney of 31/12/03, S.A. Sukhorukov, power of attorney of 31/12/03.
for the Respondent: A.Yu. Pappo, power of attorney of 31/05/04,
for third parties 1, 5, 6, 7, 8 D.B. Shnaudman, power of attorney of 31/12/03.
The following persons summoned did not appear in court: third parties 2, 3 ,4 (duly notified).
The Court has established: The Public Company «Russian State Insurance Company» (hereinafter «Rosgosstrakh») filed an application seeking to render the decision of the Ministry for the Antimonopoly Policy and Support of Entrepreneurship of the Russian Federation of 10/03/04 and the prescription of MAP of the Russian Federation # 2-06/27-4 of 10/03/04 in respect of Rosgosstrakh, «Rosgosstrakh-Accord», «K.F. Stelt», «Mega-Intellect» and «Nordtradegroup» as invalid and unlawful.
The dispute has been examined in the absence of the representatives of third parties 2, 3, 4 based on the records of the case pursuant to Articles 123,124 of APC of the Russian Federation.
The Claimant makes its case based on the following inferences:
The Claimant believes that the decision of MAP of the Russian Federation of 10/03/04 and the prescription # 2-06/27-4 are unlawful and ungrounded, violating the rights and legal interests of «Rosgosstrakh», since the conclusion of MAP of the Russian Federation alleging that over 50% of the directors of the insurance companies «Socinvest», «Accord-Garant», «Vostok» were physical persons performing their work duties at PLC «Rosgosstrakh» and «Rosgosstrakh-Accord», which are part of the Group «Rossgosstrakh», is ungrounded and inconsistent with the law, and therefore PLC «Rossgosstrakh», the said physical persons, i.e. A.A. Sokolov, S.A. Odintsov, Yu. Ya. Shpizel, do not form the Group «Rosgosstrakh», and the existence per se of such a group has not been proven by the Ministry for Antimonopoly of the Russian Federation in the course of the examination of the case, and therefore considers that the conclusion of the MAP of Russia alleging that the above physical and legal persons had been engaged in concerted actions, which brought about division of the insurance market of the Republic of Bashkortostan by territory, by types of insurance services offered, and elimination of other insurance organizations from the market of insurance services, causing actual reduction of the network of subsidiaries of «Socinvest», «Accord-Garant», «Vostok», is unfounded and is not corroborated by the records of the case.
The Respondent, the Federal Antimonopoly Service of the Russian Federation (FAS RF), disclaims the claim, considers the disputed decision and prescription consistent with the law and well-grounded, and seeks to obtain a dismissal of the above claim.
Third party, «Rosgosstrakh-Accord» considers the claim founded and seeks a grant of the above claim.
Third party, «K.F. Stelt», considers the claim founded and seeks to obtain a grant of the above claim.
Third party, «Mega-Intellect», considers the claim founded and seeks to obtain a grant of the above claim.
Third party, «Nordtradegroup», considers the claim founded and seeks to obtain a grant of the above claim.
Third party, «Insurance Company «Accord», considers the claim founded and seeks to obtain a grant of the above claim.
Third party, Insurance Company «Accord-Garant», considers the claim founded and seeks to obtain a grant of the above claim.
Third party, Shareholding Insurance Company «Socinvest», considers the claim founded and seeks to obtain a grant of the above claim.
Third party, Insurance Company «Vostok», considers the claim founded and seeks to obtain a grant of the above claim.
Having reviewed the records of the case and having heard the arguments and defenses of the parties and third parties the Court has established that the claim shall not be granted on the following grounds.
As it follows from the records of the case the decision of 10/03/04 of the MAP of the Russian Federation, PLC «Rosgosstrakh», «Rosgosstrakh-Accord», «K.F.Stelt», «Mega-Intellect» and «Nordtradegroup» are found in violation of Article 6 of the Federal Law «On protection of Competition on the Market of Financial Services» in respect of concerted actions restricting competition on the regional market of insurance services to divide the territory of the market of insurance services of the Republic of Bashkortostan, by types of insurance services, and eliminating other organizations from the market; the prescription of MAP of the Russian Federation of 10/03/04 # 2-06/27-04 «On termination of violation of antimonopoly legislation» requires termination of the violation of the law and restoration of the original status.
As it follows from the records of the case, as well as from the explanations provided by the Respondent, the Panel of the MAP of the Russian Federation for examination of cases of violation of antimonopoly legislation, having reviewed the provided documents, arguments and defenses of the parties to the dispute, on 10/03/04 established the following:
The Insurance Company «Rosgosstrakh» operates on the financial market of the Republic of Bashkortostan jointly with the insurance company «Rosgosstrakh-Accord» and «Accord». Holding Company «Rosgosstrakh» is a shareholder of «Rosgosstrakh-Accord» with an 81.22% equity share, and the only shareholder of the Holding Company «Rosgosstrakh» is LLC «Rosgosstrakh-Invest», incorporated by PLC «Rosgosstrakh». «Rosgosstrakh-Accord» owns a 100% of the equity of the Insurance Company «Accord».
Pursuant to Article 3 of the Law on Competition a group of persons is a group of legal entities and physical persons, recognized by the group of persons under the legislation of the Russian Federation.
According to the above rule of law a group of persons is a group of legal entities and/or physical persons, with reference to which/whom the following condition must be met: a person or several persons jointly are entitled to directly or indirectly control over 50% of the total number of voting shares or contributions to the equity or the share capital, share of one physical person. Yet, the term 'indirect control of voting shares' implies a possibility for actual disposition thereof via third parties with respect to which the top manager is entitled to exercise his above-mentioned right or authority.
Thus, PLC «Rosgosstrakh», LLC «Rosgosstrakh-Invest», LLC Holding Company «Rosgosstrakh», «Rosgosstrakh-Accord» and PLC Insurance Company «Accord» are incorporated in one group of persons (hereinafter Group «Rosgosstrakh»).
The following insurance companies operate on the financial market of the Republic of Bashkortostan: the Shareholding Insurance Company «Socinvest», Insurance Company «Accord-Garant», Insurance Company «Vostok». The above companies are not part of the Group «Rosgosstrakh».
LLC «Mega-Intellect», incorporated by physical persons, i.e. V. Nacerius and E. Berlovskaya, owns a 93.16% share of the Insurance Company «Socinvest»; «K.F. Stelt», incorporated by R. Pykhtin and P.
Grishin, owns a 16% share of the Insurance Company «Accord-Garant» and a 46.25% share of the Insurance Company «Vostok»; LLC «Nordtradegroup», incorporated by F. Barchukov, owns a 64.08% share of the Insurance Company «Accord-Garant».
At the meeting of the Board of Directors of the Shareholding Insurance Company «Socinvest» 5 Feb. 2003 (minutes # 9 of 05/02/2003) it was announced that the shareholder «Mega-Intellect» had proposed to nominate the following physical persons to the Board of Directors of the Shareholding Insurance Company «Socinvest»: Yu. Shpizel, S. Odintsov and A. Sokolov.
At the meeting of the Supervisory Board of the Insurance Company «Accord-Garant» 5 Feb. 2003 (minutes # 14 of 05/02/2003) it was announced that the shareholder «Nordtradegroup» had proposed to nominate the following physical persons to the Board of Directors of the Insurance Company «Accord-Garant»: Yu. Shpizel, S. Odintsov and A. Sokolov.
At the meeting of the Board of Directors of the Insurance Company «Vostok» 5 Feb. 2003 (minutes # 9 of 05/02/2003) it was announced that the shareholders of the Insurance Company «Vostok», i.e. the «Urals Siberian Bank» and «K.F. Stelt» had proposed their nominations to the Board of Directors of the Insurance Company «Vostok». The «Urals Siberian Bank» nominated M. Zakirov, and «K.F. Stelt» nominated S. Gaimanov, Yu. Shpizel, S. Odintsov and A. Sokolov.
The General Meeting of Shareholders of the Shareholding Insurance Company «Socinvest» 4 April 2003 (minutes # 1 of 04/04/2003) considered election of the Board of Directors. The vote on behalf of the shareholder «Mega-Intellect» (93.16%) was cast by its authorized representative Yu. Shpizel (power of attorney of 25/03/2003). As a result of the voting the following persons were elected to the Board of Directors: Yu. Shpizel, S. Odintsov and A. Sokolov.
The General Meeting of Shareholders of the Insurance Company «Accord-Garant» 4 April 2003 (minutes # 1 of 04/04/2003) considered election of the Board of Directors. The votes on behalf of the shareholders «Mega-Intellect» (15.77%), «K.F. Stelt» (16%) and «Nordtradegroup» (64.08%) were cast by their authorized representative Yu. Shpizel (power of attorney of 25/03/2003). As a result of the voting the following persons were elected to the Board of Directors: Yu. Shpizel, S. Odintsov and A. Sokolov.
The General Meeting of Shareholders of the Insurance Company «Vostok» 28 April 2003 (minutes # 1 of 28/04/2003) considered election of the Board of Directors. The meeting was attended by the shareholders of the Insurance Company «Vostok», i.e. the Insurance Company «Accord» (3.85%) and «K.F. Stelt» (46.25%). The vote for the Insurance Company «Accord» was cast by the Managing Director of «Accord» S. Gaimanov, acting pursuant to the Articles of the Insurance Company «Accord». The vote for the shareholder «K.F. Stelt» was cast by its authorized representative Yu. Shpizel (power of attorney of 25/03/2003). The representative of the «Urals Siberian Bank» was not present at the General Meeting of Shareholders.
PLC «Rosgosstrakh-Accord» and the Insurance Company LLC «Accord» are part of the Group «Rosgosstrakh», therefore Yu. Shpizel in his capacity of the Managing Director of LLC «Rosgosstrakh-Accord» on the basis of the resolution of the General Meeting of Shareholders of LLC «Rosgosstrakh-Accord» (minutes # 3 of 18/02/2003 of the General Meeting of Shareholders of LLC «Rosgosstrakh-Accord») and S. Gaimanov in his capacity of Managing Director of the Insurance Company «Accord», at the time of the General Meeting of Shareholders of the Insurance Company «Vostok», were also members of the said group of persons, and thus Yu. Shpizel and S. Gaimanov, being members of the Group «Rosgosstrakh» owned voting shares totaling 50.1% of the corporate equity of the Insurance Company «Vostok». As a result of the voting the following persons were elected to the Board of Directors: Yu. Shpizel, S. Odintsov and A. Sokolov.
At the time of the General Meetings of Shareholders the physical persons elected to the Boards of Directors of the said insurance companies, performed their functional duties at PLC «Rosgosstrakh» and at LLC «Rosgosstrakh-Accord», which were part of the Group «Rosgosstrakh», and specifically:
A. Sokolov was Deputy Manager of the Department of Regional Development of PLC «Rosgosstrakh» (minutes of the meeting of the Boards of Directors of the Insurance Companies of 05/02/2003); S. Odintsov was Senior Expert of the Department of Corporate Governance of PLC «Rosgosstrakh» (minutes of the meetings of the Boards of Directors of the insurance companies of 05/02/2003).
As a result of the election of the above persons to the boards of directors of the Shareholding Insurance Company «Socinvest», Insurance Company «Accord-Garant» and Insurance Company «Vostok», over 50% of the membership of the boards of directors of the insurance companies were filled with physical persons who performed their work duties at PLC «Rosgosstrakh» and LLC «Rosgosstrakh-Accord», which were part of the Group «Rosgosstrakh».
According to para 20 of Article 4 of the Law on Competition on Product Markets, a 'group of persons' is defined as a group of legal entities and/or physical persons performing their duties at legal entities which are part of one group of persons, and exceed 50% of the membership of the collective executive body and/or of the board of directors (supervisory board) or any other collective management body of another legal entity.
In accordance with part I of Articles 64 and 65 of the Federal Law of 26/12/95 # 208-F3 «On Joint-Stock Companies» and the Articles of the insurance companies «Socinvest», «Vostok» and «Accord-Garant» the terms of reference of the boards of directors (supervisory boards) are defined as including the following matters: determination of top priority business development objectives of the company, increase of the corporate equity, appointment and early termination of the office of the Managing Director of the company, deciding on establishment and termination of subsidiaries, etc.
Thus, as a result of concerted actions performed by PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «K.F. Stelt», «Nordtradegroup», «Mega-Intellect» PLC «Rosgosstrakh» and LLC «Rosgosstrakh-Accord» were enabled to determine the conditions for the business activities of the insurance companies «Socinvest», «Accord-Garant», «Vostok», and the above organizations became members of the Group «Rosgosstrakh».
It also follows from the records of the case that following the examination of the documents relating to the activities of the insurance companies «Socinvest», «Accord-Garant», «Vostok» in the time frame April-September 2003 (i.e. in the period following the said general meetings of shareholders up to the time indications of the violation were identified) the Panel of MAP of the Russian Federation established that pursuant to resolutions of the boards of directors subsidiaries of the insurance companies were liquidated in the communities of the Republic of Bashkortostan, where the above subsidiaries of the insurance companies were in competition with LLC «Rosgosstrakh-Accord», a subsidiary of PLC «Rosgosstrakh», which led to the division of the territory of the insurance market in the Republic of Bashkortostan.
Pursuant to the minutes of the meeting of the Board of Directors of the Shareholding Insurance Company «Socinvest», represented by Yu. Shpizel, S. Odintsov and A. Sokolov, which took place 31/07/2003, it was decided to liquidate 9 subsidiaries of «Socinvest» on the grounds of poor business performance. The executive order of the management of «Socinvest» of 28/08/2003 # 39 imposes on the managing directors of the subsidiaries, subject to liquidation, the responsibility to transfer their business files to the appropriate subsidiaries of «Rosgosstrakh-Accord».
Pursuant to the minutes of the meeting of the Supervisory Board of the Insurance Company «Accord-Garant», represented by Yu. Shpizel, S. Odintsov and A. Sokolov, which took place 31/07/2003, it was decided to liquidate 4 subsidiaries of «Accord-Garant» on the grounds of poor business performance. The executive order of the management of «Accord-Garant» of 28/08/2003 # 29 imposes on the managing directors of the subsidiaries, subject to liquidation, the responsibility to transfer their business files to the appropriate subsidiaries of «Rosgosstrakh-Accord».
Pursuant to the minutes of the meeting of the Board of Directors of the Insurance Company «Vostok», represented by Yu. Shpizel, S. Odintsov and A. Sokolov, which took place 03/06/2003, it was decided to liquidate 10 subsidiaries of «Vostok» on the grounds of poor business performance. And it is noteworthy that 30/06/2003 «Vostok» and «Rosgosstrakh-Accord» signed an agreement # 1-12-025-03, under which the responsibilities for performance under the written business of «Vostok» were transferred to «Rosgosstrakh-Accord».
The Insurance Company «Rosgosstrakh-Accord» has subsidiaries in the same locations of the Republic of Bashkortostan, where the subsidiaries of «Socinvest», «Accord-Garant» and «Vostok» were liquidated (»List of subsidiaries of the Limited Liability Company «Rosgosstrakh-Accord», approved by the General Meeting of Shareholders by its resolution of 30/06/2003).
Based on the analysis of the gross written premium revenue at the insurance companies «Socinvest», «Accord-Garant» and «Vostok», broken down into the types of insurance in the period 2000-2003, the Panel of MAP of the Russian Federation also identified a trend toward reduction of the premium proceeds in the wake of the concerted actions undertaken by the Group «Rosgosstrakh» and «K.F. Stelt», «Nordtradegroup», «Mega-Intellect», as compared with the performance data for 2002 and incremental for three quarters of 2003 a trend was identified toward a substantial reduction of the gross written premium on the following insurance types.
The assessment of the condition of the competition on the insurance market of the Republic of Bashkortostan, considering the market concentration and the Herfindale-Hirschman Index (HHI), performed by the Panel of the MAP of the Russian Federation as part of the examination of the case # 2 06/27-04 showed that the concerted actions of the insurance companies PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord» and the legal entities «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect» had resulted in restriction of the competition on the insurance market of the Republic of Bashkortostan.
As a result of the concerted actions the condition of the market of insurance services in general across the Republic of Bashkortostan is changing from moderately concentrated to highly concentrated, which is evidenced by the increase both in the market concentration factor from 60.6% up to 74.4% and in HHI, from 1470 to 2452. In addition, a significant increase of HHI is observed on the market of property insurance (by 194 units, from 2101 to 2295), on the market of liability insurance (by 549 units, from 3175 to 3724), on the market of life insurance - by 2740 units, from 2786 to 5526).
Thus, the Panel of MAP of the Russian Federation established that PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect» were engaged in concerted actions which resulted in the election to the boards of directors (supervisory boards) of the insurance companies «Socinvest», «Accord-Garant» and «Vostok» (non-members of the Group «Rosgosstrakh») of persons - members of the Group «Rosgosstrakh», which enabled the Group «Rosgosstrakh» to determine the conditions for business activities of the insurance companies «Socinvest», «Accord-Garant» and «Vostok».
As a result of the said concerted actions PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «»K.F. Stelt», «Nordtradegroup» and «Mega-Intellect» subsidiaries of the insurance companies «Socinvest», «Accord-Garant» and «Vostok» were liquidated, gross written premium diminished, the territory of the insurance market in the Republic of Bashkortostan was divided, the market was also divided by insurance services provided, and other insurance companies are currently being removed from the market of insurance services.
The concerted actions of PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect» have led to a restriction of the competition on the market of insurance services in the Republic of Bashkortostan, which fact is demonstrated by the market concentration indicators, i.e. CR3 and HHI. The said concerted actions have resulted in modification of the level of concentration of the market of insurance services in general across the region which is migrating from moderate to high, and it follows thence that PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord» (members of one group), as well as «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect», undertook concerted actions which resulted in restricted competition on the market of insurance services in the Republic of Bashkortostan, including aiming at division of the territory of the market of insurance services, as well as by types of services provided on the market of insurance services, and removing other insurance companies from the market.
Article 6 of the Law on Competition on Product Markets prohibits and invalidates in due process, in whole or in part, any agreements or any concerted actions undertaken by financial organizations between themselves and/or with other legal entities, if such agreements or concerted actions result, or may result, in restricted competition on the market of financial services, including if such agreements or concerted actions are directly or indirectly intended for division of the territory of the market of financial services, of the types of services provided on the market of financial services, or the users of the financial services on the market of financial services; restricted access to the market of financial services or removal of other financial organizations from the market.
Considering the above circumstances, the concerted actions of PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect» were lawfully construed by the Panel of the MAP of the Russian Federation as required by Article 6 of the Law on Competition on Product Markets, as restricting competition on the insurance market of the Republic of Bashkortostan, as pursuing division of the territory of the market of insurance services in the Republic of Bashkortostan, division of the market by types of insurance services provided, as well as removal of other insurance organizations from it.
Arguments of the Claimant alleging that the executive order of 31/07/2003 # 263-01/06, which should be abolished as required by para 2 of the Prescription of the MAP of the Russian Federation, was not issued by the management of LLC «Rosgosstrakh-Accord», are deemed by the Court as unjustified, because a certified copy of the said order has been provided by LLC «Rosgosstrakh-Accord» for review to the Panel of the MAP of the Russian Federation and is contained in the records of the case # 2 06/27-04.
The references made by the Claimant to errors, allegedly contained in the Prescription of the MAP of the Russian Federation, are not supported by the records of the case and by the text of the Prescription per se, since according to para 2 of the Prescription of the MAP of the Russian Federation the party at fault is required to take corrective action to eliminate violation of Article 6 of the Law on Competition as follows: reverse the resolutions of the Board of Directors of the insurance companies «Socinvest», «Accord-Garant» and «Vostok» to liquidate subsidiaries (including the resolution of the Board of Directors of the Shareholding Insurance Company «Socinvest» of 31/07/2003, resolution of the Board of Directors of «Accord-Garant» of 31/07/2003, resolution of the Board of Directors of the insurance company «Vostok» of 03/06/2003), the order of the management of LLC «Rosgosstrakh-Accord» of 02/06/2003 # 170/18 «On approval of the budget and the By-laws of the project «Reorganization of network of subsidiaries»; the order of LLC «Rosgosstrakh-Accord» of 31/07/2003 # 263-01/06 «On enactment of the Procedures of performance under agreements of the Group «Accord» companies (»Socinvest», «Accord-Garant» and «Vostok»); restoration of the network of subsidiaries of the insurance organizations of «Socinvest», «Accord-Garant» and «Vostok» provided availability of demand for insurance services of the said insurance companies and possibility of break-even provision of such services by «Socinvest», «Accord-Garant» and «Vostok». MAP of the Russian Federation thereby prescribes the parties at fault to cancel some of their in-house ordinances designed to restrict competition on the market of insurance services in the Republic of Bashkortostan and restore the network of subsidiaries of the above insurance companies. The said prescription is not at variance with the rules of the Federal Law «On protection of competition on the market of financial services».
The arguments of the Claimant alleging that MAP of the Russian Federation wrongly chose not to invoke Article 8 of the Law on Competition, which according to the Claimant makes provision for liability for non-information of the Federal antimonopoly authority on agreements or concerted actions of financial organizations restricting competition on the market of financial services, are deemed by the Court as unjustified, since it follows from Article 8 of the Law on Competition, that the said rule of law contains no references to liability of financial organizations for non-information of the MAP of the Russian Federation about concerted actions. The said Law on Competition regulates such notification procedures. Therefore, the Panel of the MAP of the Russian Federation has established fact of concerted actions performed by PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect» in violation of the antimonopoly legislation, and upon completion of the examination of the case # 06/27-04 in strict conformity with the Law on Competition the Panel of the MAP of the Russian Federation issued its Decision based on which the parties at fault were given a PRESCRIPTION to terminate violation of the antimonopoly legislation and eliminate its consequences, which is consistent with Article 6 of the Federal Law «On protection of competition on the market of financial services».
The arguments of the Claimant alleging that since pursuant to para 12 of the Decree of the President of the Russian Federation of 09/03/2004 # 14, MAP of the Russian Federation was abolished, rendered the Decision and the Prescription of the MAP of the Russian Federation illegal, are deemed by the Court unjustified, because, as it follows from para 26 of the Decree, the Decree takes effect as from the date of its official publication. The said document was published 12/03/2004. Therefore, by the time the Panel of the MAP of the Russian Federation made its Decision which is being disputed, the Decree had not yet entered into effect, and therefore the references of the Claimant to this regulatory document are invalid.
The arguments of the claimant alleging that the challenged deeds were made by the respondent in violation of the terms of reference are considered by the Court as unjustified, since the Panel of MAP of the Russian Federation is authorized to perform inquiries and make decisions based on the findings of the said inquiries. Therefore, the responsibilities for conducting inquiries and making decisions are within the terms of reference of MAP of the Russian Federation.
According to Article 13 of the Civil Code of the RF, any non-regulatory document of a government or self-government body, and in cases provided by law, also regulatory documents inconsistent with the law or any other instruments and violating civil rights and interests of citizens or legal entities, may be invalidated by the Court.
Considering the circumstances of the case the Court has established that the disputed decision and prescription issued by MAP of the Russian Federation in respect of PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect» are consistent with Article 6 of the Federal Law «On protection of competition on the market of financial services», that the respondent, as required by Articles 65, 200 of the APC of the RF, has demonstrated the circumstances, which served as the basis for the issuance of the disputed deeds, based on which the claim is recognized by the Court as unjustified and not subject to satisfaction.
The court expenses in the amount RUR 1,000 shall be charged against the claimant.
On the basis of Articles 8, 10, 12, 13 of the Civil Code of the RF, Articles 3, 4, 6, 16, 17 of the Federal Law «On protection of competition on the market of financial services», in pursuance of Articles 27, 28, 29, 64, 65, 110, 123, 124, 176, 197-201 of the APC of the RF, the Court hereby
DECIDES:
Dismiss the claim of PLC «Rosgosstrakh» filed against the FAS of the RF seeking to invalidate (render illegal) the determinations of the MAP of the Russian Federation of 19/03/2004 and the prescriptions of the MAP of the Russian Federation of 10/03/2003 # 2 06/27-04 in respect of PLC «Rosgosstrakh», LLC «Rosgosstrakh-Accord», «K.F. Stelt», «Nordtradegroup» and «Mega-Intellect», and based on review for conformity with the Federal Law «On protection of competition on the market of financial services».
The above decision can be appealed within one month at the appellate court of the Moscow Court of Arbitration.
The motivated decision was written 01/07/04 (as per part 2 of Article 176 of the APC of the RF)
Arbitrator T. Gorodilina