Article 9 par. 1 and 2 of L. 703/1977
Article 25 Β par. 1 of L.3959/2011

1) GREEK COMPOSERS’ UNION and natural persons
2) AEPI Hellenic Society for the Protection of Intellectual Property SA

Summary of Decision The Hellenic Competition, Commission (HCC) meeting in Chamber, unanimously held that the declaration of AEPI’s bankruptcy does not per se exclude the capacity of the HCC to impose, after the declaration of bankruptcy, as well as in the course of the bankruptcy proceedings, sanctions for breaches of competition law which relate, as in this case, to a period prior to the declaration of bankruptcy, during which the above undertaking was active and the facts underlying the infringement occurred. However, in view of the current stage of the bankruptcy proceedings, it is estimated that it would be impossible to collect any fine that might be imposed on AEPI pursuant to article 9 par. 1 of Law 703/1977.
In addition, the new provision of article 25 B par. 1 of Law 3959/2011, which is applicable in this case as more favorable than the former provision of article 9 par. 2 of Law 703/1977, provides for the calculation of the maximum amount of fine on the basis of a 10% of the company's aggregate global turnover in the financial year preceding the issue of the decision. Since AEPI was declared bankrupt on 18/06/2019, its aggregate global turnover during the year preceding the issue of the decision is zero. Therefore, no fine was imposed on AEPI.
Finally, the imposition by the HCC of any administrative measure pursuant to article 9 par. 1 (a-d) of Law 703/1977 is regarded in this case as irrelevant.