Intel has filed a claim with the European Commission for 593 million euros ($624 million) in interest, five months after convincing Europe’s second-highest court to dismiss a 1.06 billion euro EU antitrust penalties, according to an EU filing on Monday.
Last year, the EU executive was forced to pay default interest on refunded penalties in nullified antitrust proceedings by Europe’s top court, paving the path for similar damage claims.
Late payment of interest, according to the judges, will entail interest as well.
In its case to the General Court in Luxembourg, Intel said that the European Commission, which operates as the EU’s competition watchdog, had failed to pay the business for the default interest.
Following Intel’s court setback in January, the Commission returned $1.2 billion to the company.
Intel’s claim is based on an interest rate of 1.25 percent, equivalent to the European Central Bank’s refinancing rate, starting in May 2009, and should be increased to 3.5 percent from August 2009 to February this year, when the EU repaid the company fine, minus 38 million euros in interest paid to Intel by the Commission.